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Construction : Web Exclusive | March 2014 | Source : Construction Update

IRB requests NHAI for deferment of premia payment for two road projects

The Government of India has recently approved deferment of premium payment with regard to BOT projects. IRB Infrastructure Developers has recently approached the National Highways Authority of India (NHAI) for rescheduling premium payments related to two of its stressed road projects. The project comprises six-laning of the Ahmedabad-Vadodara covering 102 km stretch and four-laning of the Tumkur-Chitradurga covering 14 km stretch in Karnataka. The projected toll on the Ahmedabad-Vadodara stretch in FY15 is Rs 130 crore, while debt servicing cost is Rs 97 crore and operation and management cost Rs 17 crore. As per the contract, IRB has to pay a premium of Rs 340 crore for FY15. The developer has sought postponement of premium payment in this regard. For Tumkur-Chitradurga stretch, IRB has sought deferment of Rs 90 crore premium for FY15. NHAI will take a call on this request soon.
 
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