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

NHAI approves nine highway projects for premium deferment

The Board of National Highways Authority of India (NHAI) considered and approved nine proposals for deferment of premium for a total value of Rs 5,959.93 crore. The period during which such deferment is considered spans the period 2014-15 till 2026-27, with the deferment granted during 2014-15 amounting to Rs 651.30 crore Projects for which deferment is permitted 1. Godhra-GUJ/MP border 4 laning (BSCPL) 2. Beawar-Pali-Pindwara 4 laning (L&T) 3. Rohtak-Panipat 4 Laning ( Sadbhav ) 4. Hyderabad-Yadgiri 4 laning (Sadbhav) 5. Samakhiyali-Gandihidham 6 laning (L&T) 6. Ahmedabad –Vadodara 6 laning (IRB) 7. Tumkur-Chitradurga 6 laning (IRB) 8. Indore-Dewas 6 laning (Gayatri-DLF) 9. Hosur-Krishangiri 6 laning (Reliance Infra) This step would give huge comfort to the lenders as debt obligation would now get priority over the premium payable to NHAI. The highways authority would be able to recover the deferred premium with interest in the latter period of the concession. The deferment shall be limited to the actual revenue shortfall after meeting the debt obligation and operation expenditure. The concessionaire would not be allowed to declare any dividend until the shortfall in premium is made good. The concessionaire would also be required to share their toll collection data with NHAI on real time basis.
 
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