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Part of Road construction quality is being monitored via third-party audits amid bitumen price hikes caused by war in West Asia.

How does Bitumen price hikes due to West Asia conflict affect corporation?

The corporation is facing significant cost pressure due to soaring bitumen prices. The ongoing conflict in West Asia has caused the price of bitumen to rise sharply. This forces the corporation to explore allowing additional estimates to bridge the gap between original project agreements and current costs.

Reported by 1 independent outlet Written Sep 25
Effect
Strong negative
How direct
Stated in the reporting
When
Unclear
The story
Gone quiet

How it reaches corporation

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Why it matters

The price of bitumen, a crude oil residue, has risen dramatically during the conflict, increasing from ₹61,126 to ₹85,955 per tonne over six months. The corporation is exploring the possibility of allowing additional estimates to manage this cost gap for projects worth around ₹1 lakh crore currently underway across the state.

What would change this answer

The government issues a directive from the Finance department to cover the entire gamut of ongoing works at current market rates.The cost pressure on the corporation may be alleviated.
The West Asia conflict eases and bitumen prices stabilize.The need for additional cost estimates may diminish.

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The full eventWest Asia Conflict Drives Up Bitumen Costs, Challenging Road Projects in Kerala Everything aboutcorporation

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