Market watchers and rating agencies believe that as long as NHAI continues to receive 'direct and indirect government support' for implementation of various highways projects, it is anticipated to be 'stable' and a 'decent buy'
IPOs are when the authorities, after agreeing to sell their shares to the public, put the shares up for sale for the first time.
The facility aims to reduce long queues and make payment easier for commuters
In the first phase, a corridor will be built to connect NH 1 and NH 8. This will be followed by the second phase where NH 8 will be connected to both NH 2 and NH 10
NHAI plans to fit RFID-enabled FASTag system across all the lanes of 371 toll plazas over national highways by October. Currently, 365 toll plazas have a single lane dedicated to FASTag users
Farmers in Noida have refused to give up their land for ‘low compensation’; NHAI needs another three months to complete the expressway
"There should not be any delay in the Rs 12,000-crore project for developing 900 km of National Highways in Uttarakhand for improving connectivity to Char Dham pilgrimage centres," officials present at the meeting quoted Gadkari as saying.
"During the demonetisation, we had asked the toll operators to stop collecting toll as there was shortage of cash with public. We had also committed to compensate them for their losses, which we are now doing," state finance minister Sudhir Mungantiwar told PTI.
Road Transport and Highways Minister Nitin Gadkari said it was reported in media that M/S CDM Smith, through its employees and agents, and those of its wholly-owned Indian subsidiary (CDM India), had paid approximately USD 1.18 million in bribes to government officials in India in exchange for highway construction supervision and design contracts.
Government to increase highways network to 2 lakh kilometers through public and private funding
The company also said that its board has approved the proposal of its subsidiary - Welspun Financial Services Limited (WFSL)- to apply to RBI for NBFC licence.f
The road transport minister further said that instead the government will focus on training drivers as adequate driving skills can provide employment to about 50 lakh people.
The 111-km Delhi-Sonipat-Panipat RRTS project is estimated to cost about Rs 16,500 crore, while the 180-km Delhi-Rewari-Alwar line will cost about Rs 37,000 crore.
The minister has ordered enquiry to “ascertain facts” in the case involving bribery allegation up to USD 1.18 million
The Criminal Division of the Justice Department, in a letter dated June 21, said CDM Smith through its employees and agents, and those of its wholly-owned subsidiary in India (CDM India) paid approximately USD 1.18 million in bribes to government officials in India in exchange for highway construction supervision and design contracts and a water project contract resulting in approximately USD four million in net profits.
Sources tell CNBC-TV18 that the National Highways Authority of India (NHAI) is in exploratory stages to consider an Infrastructure Investment Trust (InvIT) listing for its road portfolio.
"India gives the highest priority for infrastructure development. Our economy is the fastest growing in the world. NHAI is a flagship organisation, with AAA rating and we have many big projects to offer," Gadkari said at the London Stock Exchange market opening ceremony.
A Supreme Court bench of justices Madan B Lokur and Deepak Gupta, was apprised by Ghaziabad’s senior superintendent of police (SSP) that the construction work on the Eastern Peripheral Expressway in Ghaziabad has resumed. R
Ind-Ra notes that non-submission of bank guarantees despite reminders from NHAI and non-opening of Arbitral Award Escrow Account (escrow account) are the key deterrent to the success of the scheme initiated by the government.
Protests from farmers at the construction site has stalled work on the Eastern Peripheral Expressway in Ghaziabad, the National Highways Authority of India (NHAI) has informed the Supreme Court, adding that although the apex R
The National Highways Authority of India (NHAI) will put in place a conciliation committee in a month in its bid to resolve highway disputes involving huge sums as claims.
The National Highways Authority of India (NHAI) is looking to sell 50 billion rupees ($775 million) worth of the offshore rupee-denominated bond in order to build expressways, economic corridors, bridges and tunnels.
"The rate of construction of NHs during the last two financial year 2015-16 and 2016-17 was 16 km a day and 22 km per day, respectively," Minister of State for Road Transport and Highways Mansukh Lal Mandavia told the Rajya Sabha in a written reply.
"RInfra has received the Letter of Acceptance (LOA) from the NHAI for the construction of Vikkaravandi to Sethiyahopu section of NH-45 C in Tamil Nadu after it emerged as the lowest bidder for the development of the project on Engineering, Procurement & Construction (EPC) basis," the company said in a statement.
The company will receive Bi-Annual Annuity from NHAI post COD.