Govt to review norms for financially-stressed highway projects

December 24, 2013

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The government proposes to reschedule premium obligations of the developers of some of the financially-stressed highway projects that are under various stages of execution or are abandoned by the developers owing to various reasons.

The government move comes in the backdrop of near stagnation or a lack of progress in implementing a majority of the 53 projects for developing 6,415 km of highways, awarded during the UPA’s second term.

While a majority of these are stuck due to financial reasons, some 4,000 km of projects where construction is yet to start the reasons are mainly regulatory roadblocks or non-availability of land.

The National Highways Authority of India (NHAI) has awarded these projects on a design, build, operate basis and developers have secured the right to collect tolls on the basis of the premium they offered to pay.

Source- http://www.domain-b.com/

Written by ITW Editor · Filed Under Policy

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