Govt to incentivise faster implementation of highway contracts

In an effort to fast-track the completion of national highways, the government plans to double the incentive for contractors finishing their work ahead of schedule. The move is also expected to cut the turnaround time for a road contract by 30 per cent.   An official aware of the development said contractors might be given a bonus of up to 10 per cent of the project cost for early completion. Currently, a contractor building a less than 100-km road is entitled to a five per cent bonus for finishing the work within the scheduled time-frame.   According to the proposal, the …

Source: Business Standard