To reduce disputes, the National Highways Authority of India (NHAI) plans to tighten the norms under which builders claim compensation or damages from the government. According to the proposed change in norms, NHAI would allow road developers to claim damages arising out of an unforeseen event only within a period of 30 days.

Currently, road developers can knock the door of NHAI any time after the award of the contract, as there is no restriction on time period.

After burning its hand with GVK Transportation, the National Highways Authority of India (NHAI) will soon put the Shivpuri-Dewas road project in Madhya Pradesh for rebidding. The project, first awarded to GVK Transportation in January 2012, was terminated by NHAI due to the company's failure to achieve financial closure for the project.

The project value, Rs 2,815 crore at that time, would now be Rs 4,000 crore owing to escalation in input costs, a senior NHAI official said. Even before NHAI terminated the contract, GVK had walked out of the project, citing delays in getting various clearances.

New Delhi: The board of National Highways Authority of India (NHAI) has approved the formation of an entity similar to an asset reconstruction company (ARC) to take over bank loans extended to road projects that are likely to turn bad.

This decision was taken at a meeting held on Thursday, two government officials said on condition of anonymity. The objective is to keep bank balance sheets healthy and at the same time revive road projects.

NEW DELHI: National Highways Authority of India (NHAI) has proposed setting up of new entity, sort of an asset management company, to push completion of unfinished highway projects, which are facing major delays due to non-availability of finances from private developers and financial institutions. The proposal will come up for consideration at theNHAI Board meeting next week.

New Delhi: The ministry of road transport and highways has decided to constitute an inter-ministerial committee to review the note prepared by the National Highways Authority of India (NHAI) seeking an overhaul of the existing model concession agreement to revive private sector interest in the road sector, said two government officials who did not want to be named.

The model concession agreement is the contract that sets the terms of execution of a project and is signed between the concessionaire and the government, in this case the NHAI.

In a bid to make contract rules for road projects more flexible, the National Highways Authority of India (NHAI) is planning to tweak the Model Concession Agreement (MCA) so that it suits the changing market conditions.

NHAI is redrafting the MCA, which will give it the powers to change bidding documents if the projects are stuck for any reason, a senior official from NHAI told Business Standard.

The National Highways Authority of India (NHAI) last month's move to reschedule the premium that developers of road projects have to pay to the government for securing the right to build and operate them will facilitate faster completion of the beleaguered projects and help companies service the debt associated with them.

The defence and road ministries are close to an agreement for speedy transfer of land parcels currently with the three armed forces to the National Highways Authority of India (NHAI) so that a host of large highway projects can take off. Some of these projects have been stuck for want of defence ministry clearances (for land transfer) for up to five years, taking a toll on highway construction, which is also reeling from the hit taken from the economic slowdown and low investor interest.

In a bid to ensure transparency, National Highway Authority of India (NHAI) will put all information related to private public partnership (PPP) projects taken up by them in the public domain.

"NHAI proposes to place all information relating to projects taken up by them under PPP mode in the public domain to be available on a link -- www.Nhai.Org.In. Specific project details can be obtained by typing the name of the particular stretch or project implementation unit along with this link," according to an official statement.

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