Nine stressed highway projects to be allowed ‘deferred premium payment’ option by NHAI
In a move which will apparently trigger the revival of the stagnating highways sector and offer a helping hand to stressed projects, the option to defer premium payment commitments of a number of projects will be allowed by National Highways Authority of India (NHAI).
As many as nine projects will likely receive the approval of the NHAI later this week. As per the information shared by officials, the projects which will be approved by the NHAI will include those projects which have been ascertained as ‘eligible for relief’ by the agency.
Bigwig infrastructure firms – including the likes of IRB, L&T, and Reliance Infrastructure, among others – are involved in the nine projects. These projects chiefly include six laning of the Ahmedabad-Vadodara road; and four laning of the Beawar-Pali-Pindwara stretch.
The officials also revealed that quite a few developers had approached the NHAI to gain approval for the option of deferring premium payment commitments, and the agency’s intervention had been sought in a total of 14 projects.
Earlier this year, a committee appointed by the Prime Minister and steered by C Rangarajan – chairman of the PM’s Economic Advisory Committee – had finalized the policy under which developers are being allowed to defer their premium commitments.
The finalization of the policy had come after more than one year of negotiations which involved the Highways Ministry, the Planning Commission, and the Ministries of Finance and Law.
Source: The Economic Times – Kolkata Edition
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