The Cabinet Committee on Economic Affairs has amended its earlier approval dated May 13, 2015, for permitting 100 per cent equity divestment after two years of construction completion for all BOT projects, irrespective of year of award.
The approval will allow the concessionaire(s)/promoter(s) to use proceeds from the sale for use in incomplete NHAI projects, any other highway projects, power sector projects and to retire debt in other infrastructure projects.
However, the National Highways Builders Federation (NHBF) said developers with highly leveraged balance sheets should be allowed to utilise the funds to reduce existing corporate debt or invest in new infrastructure projects that need not be highways projects only.
100% stake sale cleared in BOT projects
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