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By: Aditya and Luke Judson.
1. Pg Student, Department of Building Engineering and Management, School of Planning and Architecture, New Delhi, India
2. Assistant Professor (CONTRACT) Department of Building Engineering and Management, School of Planning and Architecture, New Delhi, India
The Hybrid Annuity Model has garnered significant acclaim as a Public-Private Partnership (PPP) framework for highway infrastructure development since its inception in 2016, in response to a waning enthusiasm for PPP initiatives aimed at revitalizing the sector. This model is postulated to amalgamate the advantages of both public and private sectors, as it alleviates the financial encumbrance on concessionaires by permitting governmental investment of 40% of the requisite capital during the construction phase, while facilitating the reimbursement of 60% of the investment to the concessionaire through bi-annual payments over a span of 10 to 15 years, corresponding to the operational and maintenance phase. The objective of this investigation is to conduct a comprehensive analysis of the Hybrid Annuity Model in juxtaposition with road and water infrastructure projects by delineating its inherent strengths and associated issues. Through an extensive review of the literature, the model is comprehensively elucidated, encompassing the historical progression of PPP, the imperative for a novel PPP framework, the advancement of the Hybrid Annuity Model within road infrastructure, the factors contributing to the decline of HAM, modifications in the Model Concession Agreement (MCA) documentation, the procedural adoption of the Hybrid Annuity Model in sanitation initiatives, as well as the benefits and challenges delineated by various scholars in relation to HAM. This study articulates the advent of the Hybrid Annuity Model within the Road and Transport sector and subsequently examines its burgeoning application in the water sector. It encapsulates the merits and obstacles encountered in the implementation of this model within sanitation, particularly in the realm of Fecal Sludge and Septage Management (FSSM).
Keywords: PPP. Challenges in PPP model, Hybrid Annuity Model (HAM), Ham in highway projects, Declining factors of HAM in Highway projects, Sanitation Projects of Ham
Citation:
Refrences:
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