We expect the awards to remain in the range of 3

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uk canada goose outlet Till February 2020, a total of 246 road projects with an aggregate length of about 10,100 km were awarded under BMP Phase I at a total cost of Rs 2.38 lakh crore.This along with prudent bidding by developers at a premium when compared to NHAI’s base price has resulted in significantly higher awarded cost for BMP Phase I when compared to initial estimates.Further as per ICRA’s estimates, the prevailing uncertainty due to COVID 19 and the consequent impact on valuations could delay asset monetisation plan of NHAI through toll operate transfer (TOT) auctions and launch of infrastructure investment trust (InvIT).Depending on how quickly the normalcy is restored, these plans could take off by end of FY2021. Therefore, 2020 is likely to be another year of muted awards.Shubham Jain, Senior Vice President, Corporate Ratings, ICRA said, “As on March 2020, 16,219 km of BMP (around 47 percent of BMP) was pending to be awarded. We expect the awards to remain in the range of 3,000 3,200 km in FY2021 and increase thereafter once NHAI completes its proposed fund raising through infrastructure investment trust.”With pick up in awards starting FY2022, the Bharatmala awarding activity is expected to get completed by FY2023 only,” he added.The Cabinet Committee on Economic Affairs (CCEA) approved the BMP Phase I along with other programmes on October 24, 2017.A total of around 34,800 km roads are being considered in BMP Phase I, which also includes 10,000 km of balance road works under NHDP.Estimated outlay for BMP Phase I was Rs 5.35 lakh crore spread over five years between 2017 2022, as per the initial plan.. uk canada goose outlet

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