Govt may miss road award target

October 15, 2012

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NEW DELHI: Private highway developers, who are struggling to get finances for projects, are likely to impact government’s target of awarding 9,500 km during this fiscal. With only 600-odd km road stretches awarded during the first half of the financial year, now even senior National Highways Authority of India (NHAI) officials are conceding that they can award not more than 5,000 km till March, 2013.

At least 23 road projects awarded last year have missed their timeline to tie up funds. NHAI gives six months to contractors to get funds from banks and financial institutions for all build, operate and transfer (BOT) projects.

Source: http://timesofindia.indiatimes.com