The April-June quarter of the current fiscal has seen a recovery of sorts in the road construction sector, reports Timsy Jaipuria in New Delhi. Developers appear to be willing to build once again on the back of faster green clearances and an easier land acquisition process, both of which should help them access funding from banks that have been reluctant to lend, having burnt their fingers with stuck projects.
The three months to June saw contracts for eight projects, across 797.13 km being awarded, half of what was awarded in 2013-14. Indeed, despite the numerous problems with the public-private partnership model ? several projects have seen premium being rescheduled ? developers aren?t shying away from this route; 355 km will be built via the build, operate and transfer route across two stretches by IRB ? Sholapur-Yedeshi and Kaithal-Rajasthan border. This compares with 220 km last year.