BOT from the blue: aggressive bidders for airports may not have been prudent, shows the experience with roads

The public-private partnership (PPP) model in India is a cautionary tale for companies and government agencies of how joining hands is not always a good idea. In the past, infrastructure companies have burnt their fingers after bidding aggressively under the build-operate-transfer (BOT) model, assuming road assets would attract high traffic and, therefore, bring good returns. But bidding for projects on the basis of traffic assumptions has