MUMBAI: The National Highways Authority of India has approached the National Payments Corporation of India to set up an interbank clearing house to enable e-tolling across 350 toll plazas in the country.

The move is expected to help the country save thousands of crores of rupees annually in fuel consumption and speed up freight. The measure will help reduce congestion at toll gates and curb malpractices.

NEW DELHI: Huge demand from all categories of investors has forced the National Highway Authority of India (NHAI) to advance the closure of the second tranche of the Rs 3,300 crore tax-free bond issue to Friday, February 26, from the scheduled closure of March 1.

The bond issue continued to attract bids in large volumes from investors across categories. Data available on the BSE website showed the issue had received 18.40 times bids by 11 am on Friday.

NeW DELHI: For the first time in NHAI's history, all stakeholders tasked with building and maintaining national highways, including officials, staff, road developers and consultants on Friday publicly pledged not to give or take any "inducement or obligation" from each other.

Top NHAI officials and senior executives of infrastructure majors, including GMR, IRB, GVK, Sapoorji Pallonji and Oriental Structural Engineers took this pledge on the occasion of NHAI's 21st foundation day.

Setting stiff target for itself of awarding 5,000 km highway projects annually over the next two financial years, the National Highways Authority of India (NHAI) has drawn up a plan to borrow more than R1 lakh crore from the domestic markets during the period. The planned hike in borrowings is in line with the government’s plan to accelerate road construction and achieve the target of building 30 km a day.

The highways ministry has identified 104 toll roads for monetisation. The government plans to earn Rs 80,000-1,00,000 crore over a period of 20-25 years from monetisation of these completed public funded national highway (NH) projects.

The ministry intends to give out these projects to private companies in toll-operate-transfer mode. The private companies entrusted for the purpose will collect toll as well as will be responsible for the maintenance of the stretch for which they are collecting toll.

NEW DELHI: In a major move to deter plying of overloaded vehicles on highways, the National Highways Authority of India (NHAI) has decided to force them off the road till the extra load is removed at the cost and risk of transporters.

This will be in addition to levying of penal charges of ten times the applicable fee at the toll plazas that is presently being imposed on overloaded vehicles, an official statement said.

With enhanced compensation applicable for national highways from January 2015, the National Highways Authority of India (NHAI) is facing hurdles in land acquisition in Haryana, Himachal Pradesh and Bihar.

Land owners are demanding higher compensation under a new law enacted in 2013, although land acquisition for highway stretches was started last year according to an older law. The NHAI is seeking legal opinion on compensation.

NEW DELHI: The National Highways Authority of India (NHAI) has drawn a list of 11 road projects where it suspects private developers of diverting substantial portion of funds they have withdrawn for carrying out work.

In three such projects even a single kilometer of road has not been completed whereas the fund withdrawn by private developers is in the range of Rs 365 crore and Rs 1,014 crore. In one project, work on ground is 53% while the developer has taken out the entire fund.

The National Highway Authority of India (NHAI) plans to raise funds up to Rs.1,000 crore through public issue of tax-free, secured redeemable non-convertible bonds.

The issue will open on Thursday and is scheduled to close on December 31, 2015, with an option of early closure, it said in a statement.

NEW DELHI: The National Highways Authority of India ( NHAI) today approved a pilot project for developing greenbelts along the national highways (NHs).

"NHAI has approved a pilot project submitted by National Environmental Engineering Research Institute (NEERI), Nagpur for undertaking scientific studies on designing greenbelts along national highways," an official statement said today.

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