The companies also want toll rates to be indexed to the Consumer Price Index (CPI). The finance ministry had earlier permitted indexation to the Wholesale Price Index (WPI).

The crucial model project on the national highway number 8 was put to rebidding in July after it was revised from four to six-laning.

Subsequently, NHAI had shortlisted five companies comprising Larsen & Toubro (L&T), Reliance Industries, JNP of Cyprus, Bin Hazeem of Dubai and Group 5 of South Africa based on their technical bids.

The five companies were expected to submit their financial bids soon. The project would be awarded on the basis of lowest grant component and lowest net present value. NHAI can provide a grant of up to 40 per cent of the projectcost.

The companies want NHAI to go back to the original proposal of going in for four-laning to start with and then when the need arises the road could be six-laned.

However, NHAI was of the view that if the BOT operator went in for six-laning at a later stage then it will have to seek loan again. Given the 15-year concession period, the time to pay back the second loan will be less.The companies also want that traffic projections for the project be reworked. They are keen to carry out their own surveys since traffic on the 93-km stretch was stagnant last year and did not even rise the normal 7-8 per cent over the previous year.

Though this can be attributed to the sluggish industrial growth, any fall in traffic projection leads to revenue estimation not being realised. This would have a bearing on the grant to be extended by NHAI.

The companies have also pleaded that the estimated cost of over Rs 600 crore, out of which construction and engineering cost amounts to Rs 473 crore, is not based ondetailed engineering report and therefore it should be revised. The project cost assumes importance in case of termination of the project.

The companies have asked for changes in the force majeure clause. Under the present clause, the BOT operator has to partially share the cost in case of natural disasters. In case of political factors, the government has to completely bear the cost.

The shortlisted companies also want NHAI to be a party in the state support agreement. In case the project runs into problems, the state government is required to bear the cost. However, the companies want that NHAI should bear the cost if the Rajasthan government refuses to pay.

The companies also want the ministry of surface transport to be a signatory to the concession agreement.

During the previous bidding, L&T, Reliance and Malaysian company IJM Gayathri were shortlisted in September 1997. Since then the ministry of surface transport along with NHAI had been trying to work out a concession agreement for the projectwhich could be taken as a model for other BOT projects. However, fresh proposals were invited for the project following changes in the parameters.