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The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતી
| 14 August, 2020, 01:36 PM IST | E-Paper
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    IRB Infra gets award letter for executing Rs 1,755 cr Vadodara-Mumbai Expressway stretch

    Last week, the company had emerged as the preferred bidder for the said project, under hybrid annuity mode (HAM) with a bid cost of Rs 1,755 crore, having concession period of 15 years, including 730 days of construction period.

    Cabinet makes key changes to TOT framework, allows NHAI to raise funds against toll revenue

    Among key changes, the NHAI has been allowed to v...

    • The National Highways Authority of India (NHAI) won’t issue work order for highway projects under the public private partnership (PPP) mode unless it has 90% of the land is in its possession and without obtaining all statutory clearances.

      Participation in BOT projects — where private developers build a road using their own funds, operate it and then transfer it to the govt after a specified period — has been declining for five years now. Investors have been wary of putting money given the high risk factors, changing traffic flow on account of new roads coming up over the years being a major one.

      The Centre's go-ahead to the project was conveyed to Uttarakhand Chief Minister Trivendra Singh Rawat by the National Highway Authority of India Chairman S S Sandhu who made a courtesy call to the former at his residence here on Monday, an official release said.

      The success of the third round of Toll-operate-Transfer (TOT) bundle will define the feasibility of the model introduced in 2016 for monetization of publicly-funded highways, the agency said.

      Sebi had conducted an examination in the matter of NHAI from financial year 2015-16 to 2018-19.

      “NHAI has set up point of sale (PoS) on several toll plazas across the country, and they are giving out FASTags free of cost,” said minister for road transport and highways Nitin Gadkari. The government has set December 1 as the deadline to switch all toll lanes to electronic toll collection.

      The scrip has gained 22.44 per cent in the last one month, but is still down 20.32 per cent year-to-date.

      "All 523 Toll Plazas of NHAI have been fully equipped with the required ETC infrastructure," the National Highways Authority of India (NHAI) said. It said as many vehicles are still without FASTag, up to 25% lanes have been kept as hybrid lanes for cash as well as digital transaction. Each toll plaza is being supervised by a nodal officer of NHAI.

      Under InvIT, highway projects will be bundled to form a special purpose vehicle (SPV) to be offered to investors. The SPV would then be traded on the stock exchanges, and returns will be linked to the InvIT’s performance in the capital market. InvIT as an instrument provides greater flexibility to investors and is expected to create specialized O&M.

      The applicable security deposit and minimum balance amount for FASTag wallet shall, however, remain unchanged. NHAI had earlier announced for free NHAI FASTag from November 22 to December 15 last year. The government has rolled out the FASTag-based toll collection system across more than 527 national highways in the country.

      Sebi has allowed a combined relevant experience of at least 30 years.

      The National Highways Authority of India (NHAI) is looking to settle a majority of its arbitration cases, with claims running over Rs 70,000 crore, through conciliation, a move that is likely to reduce its liabilities.

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