Yes, the Flyway demonstrated that well-structured infrastructure projects could attract long-term capital
and deliver stable public utility over decades.
The DND Flyway was pioneering on multiple fronts. It was among India’s earliest access-controlled urban
expressways delivered through a public-private partnership. It attracted global institutional funding at a
time when Indian road infrastructure was still evolving as an asset class.
Importantly, NTBCL became one of the first infrastructure implementation Company in the country to be
publicly listed, enabling retail and institutional investors to participate directly in an operating infrastructure
asset. These were significant milestones that helped shape India’s PPP and infrastructure financing
ecosystem.
All this helped reinforce the idea that infrastructure is not merely construction, but a long-term service
governed by contracts, performance standards, and public accountability.
However, the overall well-intended, well-rounded and well-conceived robust integrated Flyway PPP
agreement, that governs the construction and operations of DND Flyway, has also faced challenges on
issues of interpretation of public interest on one hand and commercial interest on the other and opened
several policy concerns that may need to be balanced in such future projects.