Media reports say that the National Highways Authority of India (NHAI) Board on August 22 has decided to cancel three highway projects of PNC Infra, C&C Construction and Era Infrastructure. Sources concerned said that the developers had not paid the performance guarantee amount after winning the projects and that is why the Board has decided to cancel the highway projects. These developers would lose their bid security, which is one per cent of total project cost.
Tag: Highway projects
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NHAI to rework on model concession agreement
The National Highways Authority of India (NHAI) plans to rework the model concession agreement (MCA) for highway projects that was redrafted just three years back after road developers sought changes to the model agreement amid a slowing economy. NHAI had asked developers, lenders, consultants and industry bodies to give their feedback on the current model concession agreement in the context of the changed economic scenario, said a senior official at NHAI.
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Developers of 25 highway projects back out, NHAI worried
Road developers of 25 highway projects, which were allotted to them over a year ago, have been backed out. With this, the National Highways Authority of India (NHAI) has appealed to the government to step in and take a call on rescheduling of premium payment to the developers. These road developers state that delays in statutory clearances, fall in traffic density due to adverse economic conditions in the country besides higher costs of raw materials has resulted in them wanting out of these pr
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61 firms pre-qualified for NHAI’s highway bidding
To participate directly in the financial bidding for highway projects in 2013 the National Highways Authority of India (NHAI) has pre-qualified 61 infrastructure companies. In the list, there are two companies that can bid for projects involving capital cost of Rs 14,411 crore. Three firms in the list can put in financial bids directly for the highway construction projects of between Rs 8,000 crore and Rs 10,000 crore.
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Highway projects worth Rs 1,900 cr get poor response
Country-wide highway projects worth over Rs 1,900 crore have found no takers even though these are based on the annuity model under which the concessionaire recovers a fixed amount of the investment from the government each year, a situation that officials say reflects the severe financial crunch in the private sector. The projects, for four-laning 177 km along NH-37 in Assam, are part of the Special Accelerated Road Development Programme in the North East approved by the Cabinet earlier this mo
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SC delinks forest from environment clearance for h’ways
With the Supreme Court's decision on March 12, about 2,500 km highway projects valued at about Rs 25,000 crore which were stuck pending environment clearances, can now move forward. the apex court permitted de-linking of environment clearance from forest clearance.
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Government to pace up NHDP projects
The Government of India has taken several initiatives to expedite highway projects under the National Highway Development Project (NHDP). The initiatives are: NHAI Board has approved formation of a High Level Expert Settlement Advisory Committee for one time settlement of old cases pending in court.
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Assam CM discusses highway projects with Joshi
At a high-level meeting in Guwahati, Assam Chief Minister Tarun Gogoi on February 4 discussed various highway projects with the Union Minister for Road Transport and Highways CP Joshi.
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nod for 2 road projects
The Union Cabinet approved proposals for two highway projects worth over Rs 5,000 crore. The Rs 2,015.6 crore highway project in Bihar will be implemented with financial assistance from Japan. The other one is four-lane 368.2-km-stretch in Odisha. The Cabinet Committee on Economic Affairs (CCEA) also approved the implementation to four-lane the Patna-Gaya-Dobhi section in Bihar with Japan International Cooperation Agency (JICA) loan assistance.
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Road contractors may be given more time to get funds
In a bid to prevent the exodus of private road contractors from highway projects, the Union government plans to extend the time required for road contractors to achieve financial closure. This is in case there is a delay in getting the required government clearances.