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Indian Roads and Highways: A Smoother Ride Into Privatisation
Four-S Services, Sep 2004, Pages: 72
The report addresses all the problems the Indian Roads & Highways sector is facing especially regarding Private Participation and suggests a model for tackling those problems.
A brief backdrop
The Indian road sector has already seen glimpses of the potential positives to be gained from Private sector participation. In the case of the National Highway Development Programme, which is the ambitious four/six laning of over 13,000km, private projects witnessed a mere 17 percent slippage in time targets as opposed to a 65 percent slippage in projects funded by the NHAI. Apart from improving efficiency, the private sector brings with it state of the art technology and chunks of private investment, essential to support a programme of such scale.
Over the last twelve months, the development process has slowed down significantly with no new stretches being issued. This is in addition to the fact that only 17 percent of potential stretches were opened up to the private sector. Politicisation and institutional problems of structure, financing and regulation have created roadblocks that can only be removed through planned initiatives. Our analysis shows that India needs over Rs 2,100 billion in investment to achieve its target 8 percent GDP growth rate by 2007 more than three times the planned investment target.
The Indian road system is growing at a meager 2.5 percent per annum since 1990 whereas traffic on roads has been growing at 8-10 percent per annum. There is a great deal to be gained from a strategic road network in terms of unlocking business potential and boosting trade directly and indirectly through a good road network. India needs to improve road quality for a colossal 1,214,000km of paved roads and our model concludes that public-private partnerships hold the key to achieving this.
What does the report offer?
- A comprehensive analysis of the progress so far, impact of policy measures, in depth analysis of the key issues in the sector and analysis of future potential with regard to private participation.
- A model drawing selectively from global experiences, focusing mainly on the Chinese experience; the innovative financing mechanisms followed in China and Malaysia as well as developed nations like the USA and Japan. All the issues, structural, financing and regulatory, have been categorically addressed in this model to assesses the true potential of the sector and bring forward possible solutions.
- All relevant data: taken from reliable primary sources like major players in construction, financing, equipment leasing, tolling and consulting; and secondary data collected from NHAI, Planning Commission and MORTH.
- Information on all key participants and their landmark projects.
Who should be interested?
The report is targeted towards anyone who is interested in (i) investing/participating in the sector, (ii) researching and analyzing the sector, (iii) getting a comprehensive view of the past development and future prospects of the sector and (iv) investigating regulatory imperatives to boost the sector.
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