Ashoka Buildcon Ltd, one of IndiaĆĀ“s leading highway developers in the country, through its Power Division, has bagged rural electrification works worth Rs.950 crore in Bihar. The company has received Letters of Intent for the following projects from North and South Bihar Power Distribution Co. Ltd.
Tag: highway developers
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Obituary
M Murali, Director General, National Highways Builders Federation (NHBF) passed away on May 17, 2016. He was always at the forefront, leading the nodal agency representing highway developers
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CBI investigates diversion of funds
The government has asked highway developers and banks to put their house in order or prepare for their contracts to be terminated.
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Panel report on road developers within one month
The Rangarajan committee set up to look into the aspects of bailout of highway developers will submit its report within a month, officials concerned in the government said in Delhi. The three-member committee is headed by Rangarajan, who is the Prime Minister's Economic Advisory Council.
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Decision soon on exit clause for highway developers
The Union Cabinet is soon to discuss the proposal for exit clause for highway developers. If the proposal is cleared, road contractors can exit from a road project by bringing in a new developer after the financial closure is complete. The exit clause proposal can only be triggered by the contractor who plans to exit, and cannot be moved without the consent of the bank, which has funded the project.
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Highway developers may get exit option
Cash-strapped highway developers may be permitted by the Union government to exit projects at any stage after financial closure if lenders agree to change the concessionaires at the request of the existing developer. The Surface Transport Ministry feels that this could be a shot in the arm for stalled highway projects since equity released from old projects can be used to develop new ones, and companies with relevant expertise can take over the construction or operation and maintenance of the ex
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Govt says law to decide on paying toll to NHAI
Union Ministry of Road Transport and Highways on May 16 said everything will be done within the legal framework on the issue of allowing highway developers to collect toll now and pay the government later, said the Ministry's Secretary Vijay Chibber. There were reports that the Law Ministry overturned a decision of the National Highways Authority of India (NHAI) to allow road companies to collect toll from highway users first and pay the authority later.
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Ministry asks NHAI to sort out row with road developers
The Union Road Transport Ministry and Highways has asked the National Highways Authority of India (NHAI) to expedite the process of resolving disputes with highway developers by the independent committee set up under the Authority to review individual cases and send its recommendations to the NHAI board. Since its inception earlier this year, the committee has taken up seven cases of pending claims but is yet to resolve any of them, said ministry officials.
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Infra firms seek simplified approval process
Players in the infrastructure sector urge government to simplify approval process for key projects especially in the road, mining and port segments. Highway developers suggest single-window clearance for mega road projects in order to ensure timely implementation
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Survey favours easy exit norms for highway developers
Taking note of difficulties faced by road projects, the Economic Survey has favoured easing of exit routes for highway developers. Exit routes need to be eased so that promoters can sell equity positions after construction, passing on all benefits and responsibilities to entities that step in, says the Survey.
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