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Banks go slow in lending loans to highway projects

Banks go slow in lending loans to highway projects

Banks are slow and cautious while lending to road developers whereas the Union government is very keen on expediting road projects on a priority basis to revive growth. In the first half of the current financial year, banks have lent a total of Rs 550 crore to only five road projects.

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Highway developers can collect only 75% toll during work

Highway developers can collect only 75% toll during work

Road developers in the country will be allowed to charge only 75 per cent toll during the work on six-laning of highway stretches. This was decided by the Union Cabinet last week. To ensure that developers don't delay construction, the Union government also allowed tolling to be suspended for failure to meet the deadline.

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Govt plans to cut road toll to developers if project is delayed

Govt plans to cut road toll to developers if project is delayed

Road developers who are collecting toll from impending road projects without completing them will be barred to collect such toll by the Union government soon. The government will prevent such road developers from collecting toll if they fail to complete the expansion work within the given period, say media reports.

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NHAI to meet banks before lending to road developers

NHAI to meet banks before lending to road developers

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.

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Govt may amend toll policy soon

Govt may amend toll policy soon

The Union government is likely to take a decision on the practice of toll collection by road developers in the country. The Highways Ministry has suggested to the Union Cabinet to end the toll collection by road developers once the road project of the particular developer comes to an end. The idea is to ensure that developers expedite projects' completion rather than delay construction and keep on collecting toll.

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Govt may amend toll policy soon

Govt may amend toll policy soon

The Union government is likely to take a decision on the practice of toll collection by road developers in the country. The Highways Ministry has suggested to the Union Cabinet to end the toll collection by road developers once the road project of the particular developer comes to an end. The idea is to ensure that developers expedite projects' completion rather than delay construction and keep on collecting toll.

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NHAI may terminate 3 road projects

NHAI may terminate 3 road projects

Taking note of a three road developers' inability to furnish Performance Bank Guarantee (PBG), the National Highways Authority of India (NHAI) board on August 23 considered termination of the three road projects. NHAI said that the board considered three projects for termination due to the inability of developers to furnish IMG. There were seven more projects, which are not moving, in the list. These projects were left out now, NHAI said.

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Road builders to pay fine to exit projects

Road builders to pay fine to exit projects

Union Road Minister Oscar Fernandes has said that road developers in the country will not be blamed for delays in regulatory procedure but have to take responsibility for their own faults and may have to pay up to one per cent of total project cost as penalty

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Road builders may have to pay fine to exit road projects

Road builders may have to pay fine to exit road projects

Union Road Minister Oscar Fernandes has said that road developers in the country will not be blamed for delays in regulatory procedure but have to take responsibility for their own faults and may have to pay up to 1 per cent of total project cost as penalty for exiting. If there is any fault on the part of the concessionaire, then there will be a penalty of a maximum of one per cent, of the total project for the developer to exit the project, he said.

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