NHAI will likely reject premium rollover requests made by 5 firms
The National Highways Authority of India (NHAI) will probably turn down requests from 5 firms for the rescheduling of premium which is due to the government for construction of highways. The firms which made the premium rollover requests that will be nixed by the NHAI include Sadbhav Engineering, Reliance Infrastructure, and Oriental Structural Engineers.
According to the information shared by a senior official on the condition of anonymity, the NHAI will consider nine applications for premium rollover at its forthcoming board meeting. The senior official told Business Standard that the NHAI had received a total of 15 applications for rescheduling of premium.
A total number of 39 projects are eligible for rescheduling of premia; with the combined premium amount owed by these developers to the government – through the next 20 years – being Rs 25,000 crore.
Noting that there should be “a strong case” behind requests for rescheduling of premia, the senior official said that 4 to 5 applications for premium rollover did not qualify for the scheme this year, and will likely be rejected by the NHAI.
About the ‘premium rollover’ applications which will possibly be rejected by the NHAI, the senior official said: “We did not find these developers under stress for the projects they have applied for rescheduling. They don’t need any relief this year; they might need it in the coming years, but not now.”
Source: Business Standard
National Highways Authority of India, National Highways Authority of India (NHAI), NHAI, NHAI projects, NHAI’s objection, Oriental Structural Engineers, premium rollover, premium rollover requests, Reliance Infrastructure, Sadbhav Engineering, status of NHAI projects
