Cannot find table 1.
Comptroller and Auditor General of India (CAG) alleged that the National Highways Authority of India (NHAI) incurred a loss of around Rs 873.85 crore owing to delay in the completion of port road connectivity (PRC) projects, which connect major ports.
The operation of the special purpose vehicles (SPV) formed for implementation of PRC projects was reviewed by the national auditor recently.
The CAG accused the NHAI of delaying the formation of the SPV and also pointed out its failure to prepare corporate or strategic plan for timely implementation of these projects.
The delay in the formation of SPVs and award of contracts in various projects ensured that none of the projects is completed by the scheduled completion date.
It may be recalled that in December 2000, the government asked NHAI to award PRC projects by March 2002. During that time, the proposal to provide four lane connectivity to the major ports in the country on build, own and transfer basis through SPVs was cleared by the government.
Accordingly, these projects were expected to be completed in 2-3 years of award of contract.
Out of the nine projects, only four were completed so far with delays ranging from 12 months (Jawaharlal Nehru Port Trust phase I) to 53 months (Kochi).