Feeling that banks are misguided over lending to road developers, the National Highways Authority of India (NHAI) has asked the banks to hold joint meetings with it before lending to road infrastructure projects. NHAI feels that often lenders are either misguided or spend more than what is required on infrastructure projects.
Tag: National Highways Authority of India
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Work on Jaipur-Gurgaon h’way stretch to pick up pace
Media reports say that now the decks have been cleared for speeding up of the widening of Jaipur-Gurgaon stretch of national highway (NH -8), which has been pending since a long time. Authorities discussed the pending issue on September 10. It is said that consensus has been reached on the issue between officials of the National Highways Authority of India (NHAI) and the Rajasthan State government.
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Gurgaon E’way: Banks may take a Rs 1,400 cr haircut
When the government takes over the Delhi-Gurgaon Expressway from the concessionaire DS Construction, the lender banks to the project might be forced to take a haircut of more than Rs 1,400 crore. Why because the National Highways Authority of India (NHAI) has informed the consortium of banks, led by IDFC Bank, that the Authority would pay the lenders only Rs 175-200 crore if it takes over the project.
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Proposal to stop toll collection on incomplete roads
A proposal has been made to the government to stop private developers from collecting toll on highway widening projects during the construction phase, if the project falls behind schedule. The proposal has been made by the National Highways Authority of India (NHAI) and it is being studied by the Union Ministry for Road Transport and Highways.
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NHAI tells govt to cancel stalled road projects amicably
The National Highways Authority of India (NHAI) has suggested the Union Highways Ministry to see that the road project contracts are cancelled amicably than wasting time in trying to revive the projects. And it also urged the Ministry to deal with the developers in a way that the project contracts are cancelled amicably.
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TN halts work on useful Chennai port e’way
The Tamil Nadu government has asked the National Highways Authority of India (NHAI) to hold the Rs 1,800 crore 19-km Chennai Port-Maduravoyal Elevated Express Corridor project as the NHAI has deviated from the approved alignment. The project is on hold since April 2012. Now, the port users say they will face huge hardships if Chennai Port-MaduraĆĀvoĆĀyal elevated corridor project is not implemented.
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Parliamentary body asks Kerala to give land for h’ways
The Parliamentary Standing Committee on Transport has resented over Kerala government's disinterest in the road projects of National Highways Authority of India (NHAI) in the state. The Kerala Government is neither interested in funding road projects through the public-private-partnership mode, nor wants to take up projects, the Committee said. The Committee stated this in Delhi in the context of problems in acquiring land for construction and widening of roads.
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NHAI drops highway projects worth Rs 4,000 cr
As the National Highways Authority of India (NHAI) could not acquire land required for road construction, it has scrapped highway projects worth Rs 4,000 crore in Goa and Kerala states. Referring the NHAI's inability to build the 4,000 crore highways, the Federation of National Highway Builders said that a new land acquisition law for public purpose has to be implemented and coordination between NHAI and State governments should be more.
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Govt asks NHAI to drop slow-progress projects
The Union government has asked the National Highways Authority of India (NHAI) to review all its languishing projects and identify those projects that can be terminated on contractual grounds, so that they can be bid for all over again. Several of NHAI projects awarded in recent years are either stranded midway or have been complete non-starters.
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NHAI to cancel three highway projects
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.