With reference to the various Public-Private Partnership (PPP) models used in infrastructure projects, consider the following statements: 1. Under the Engineering, Procurement, and Construction (EPC) model, the ownership of the project remains with the government throughout. 2. In the Hybrid Annuity Model (HAM), the private developer has to collect tolls to recover their investment. 3. Under BOT (Toll), the private developer bears the entire commercial and traffic risk. Which of the statements given above are correct?

Options:

• A: 1 and 2 only
• B: 2 and 3 only
• C: 1 and 3 only
• D: 1, 2 and 3

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