Execution of Concession Agreement

(1) Immediately after the issuance of the notice of award under sub-section (4) of section 35, the public infrastrcture agency shall execute a Concession Agreement with the awardee or successful bidder. (2) Where the Board, having regard to the nature of an infrastructure project is satisfied that, it is necessary to do so, it may permit combination of two or more model contracts of the nature specified in Schedule II in to one agreement for the purpose of private participation in the development, operation and management of the infrastructure projects.