NHAI attracts 17 bids for Odisha's new coastal highway corridor

The National Highways Authority of India (NHAI) has received 17 bids for development of the Rameshwar-Paradeep corridor, a 160-kilometre access-controlled highway project in Odisha. The competitive response indicates strong investor interest in the coastal infrastructure initiative.

The corridor will be developed in two separate packages under the Hybrid Annuity Model (HAM), a financing structure that combines government support with private sector participation. This approach allows for risk-sharing between public and private entities while ensuring timely project delivery.

The project aims to enhance connectivity along Odisha's coast and is projected to reduce travel time between the two locations by approximately two-and-a-half hours once operational. The improved corridor is expected to facilitate better movement of goods and passengers while supporting economic development in the region.

The HAM structure has become increasingly popular for highway projects across India, as it balances government budgetary constraints with private sector expertise and efficiency. The NHAI is now evaluating the bids received to identify the most competitive and technically suitable proposals for project implementation.