Are we headed for the Hindu rate of growth?
This, incidentally, is the worst recession for India since independence. July 2020
In terms of infrastructure development, most countries face issues in handling turnkey projects efficiently. The international contract models issued by the International Federation of Consulting Engineers (FIDIC), NEC, JCT, and ICE or their equivalent are put into use to monitor the projects. Revised editions of these contracts are issued on the basis of changing global trends in the EPC sector. Both FIDIC and NEC published new editions after a span of 10 to 15 years.
Prior to the recent model agreement, Niti Aayog had previously issued a draft model for infrastructure agreements in March 2018. This draft was based on the EPC document on the construction sector prepared by the Planning Commission which was then further assessed by a High Powered Working Group (HPWG), set up by the Construction Industry Development Council (CIDC). The contents of the current model agreement for EPC of civil works, which consists of six parts, briefly entail:
To access the complete document, visit the link mentioned below. Moreover, stakeholders interested in sending across any comments can do so by or before September 9, 2019. The comments can be sent in the enclosed format, preferably in electronic form, addressed to
RK Bhatheja, Economic Officer (PPPAU), on the e-mail id: email@example.com