Roads And Construction Sector: Healthy Pipeline To Concretize Contractor’s Position, Says ICICI Direct
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ICICI Direct Report
The roads and highways sector has demonstrated strong resilience to the Covid-19 disruptions with robust ordering activities (National Highways Authority of India awarded 1,330 kilometres in H1 FY21; up 1.6 times YoY) and improving construction pace.
Additionally, measures such as:
Shifting from milestone-based billing to monthly billing
Releasing of retention money/performance security in proportion to execution
Faster resolution of disputes through reconciliation
Revision of model concession agreement for hybrid annuity mode and build-operate-transfer projects ensured continuance of gained momentum and safeguarded contractor’s interest in the uncertain times.
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