After every available rating and analyst firm from Nomura to Dun & Bradstreet and India Ratings expressed a negative outlook on IndiaÂ’s infrastructure, the inevitable, unpleasant moment arrived when the advance estimates, officially announced early this month, stated that the nation can only achieve 5 per cent growth the current fiscal, the lowest in a decade, and 0.7 per cent lower than anticipated earlier.
Tag: NHAI
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Slowdown or consolidation?
After every available rating and analyst firm from Nomura to Dun & Bradstreet and India Ratings expressed a negative outlook on IndiaÂ’s infrastructure, the inevitable, unpleasant moment arrived when the advance estimates, officially announced early this month, stated that the nation can only achieve 5 per cent growth the current fiscal, the lowest in a decade, and 0.7 per cent lower than anticipated earlier.
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Work on Chennai Port connectivity project set to begin
Work on the much-delayed Rs 1,815-crore Chennai Port-Maduravoyal elevated expressway project may begin soon with the state Water Resources Department (WRD) asking NHAI to realign the expressway and proceed work. In places such as Spurtank Road and downstream of Choolaimedu bridge, the WRD asked National Highways Authority of India (NHAI), which is imple
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GVK cancels Shivpuri-Dewas road contract in MP
GVK Power & Infrastructure has terminated a road contract with NHAI in Madhya Pradesh. The tollway was to come up in Shivpuri Dewas section. But the concessionaire GVK decided to terminate the contract entered by its subsidiary with NHAI last year due to delays in securing mandatory clearances, including right of way.
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NHAI feels cost overrun as reason for exit from projects
RP Singh, Chairman of the National Highway Authority of India (NHAI) claimed that the change in the economic scenario and escalation of cost prompted two highway developers to exit mega projects recently. It may be recalled that GMR Infrastructure terminated the contract for the Rs 5,700 crore Kishangarh-Udaipur-Ahmedabad Expressway with NHAI on g
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IDFC likely to take over Delhi-Gurgaon E’way project
In a recent development to the problems surrounding the Delhi-Gurgaon expressway, NHAI has now said that it wants the lead banker of the project, IDFC to takeover the project completely.
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Ministry may miss 9,500 km road project target
Agency reports suggest that the union road ministry may not be able to award 9,500 km of projects, as was targeted, by the end of 2012-13 because several reasons like delays in environment clearances. Between Apr-Dec 2012, the ministry could award contracts for only 1,100 km of road projects. The main fact
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NHAI open to out of court settlement with green min
Reports suggest that National Highways Authority of India (NHAI) is open for an out-of-court settlement on the issue of de-linking environment clearances from forest if the environment ministry agrees. In a petition filed at the Supreme Court, NHAI called for delinking of environment approval from forest clearance to hasten highway development
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GVK terminates pact for highway project
GVK Power and Infrastructure terminated an agreement it had with the National Highways Authority of India (NHAI) to convert the Shivpuri-Dewas section of National Highway 3 into four lanes, involving 1,330 lane km. In a filing at stock exchange, the firm said the termination of the agreement for the highway project in Madhya Pradesh was in line with clause 34.8 of the conc
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Infra firms face hardships over road projects
Finding it difficult to close road contracts undertaken in the build-operate-transfer mode due to delays construction companies are in a quandary over National Highway and State road projects. They are now looking at new norms that place emphasis on the equipment, procurement and construction (EPC) approach.