Raghav Chandra says NHAI has the requisite funds for the arbitration norms and the government has shown its full support in this account.
The National Highway Authority of India will award projects of around 7,000 KM worth Rs 1 lakh crore in the current fiscal year, says Raghav Chandra, Chairman of NHAI.
Chandra says NHAI has the requisite funds for the arbitration norms and the government has shown its full support on this account.
NHAI has also identified financial aid for its 5 stalled road projects, says Chandra.
Below is the verbatim transcript of Raghav Chandra's interview to Anshu Sharma.
Q: What are your targets for FY17?
A: I do feel that we should be able to maintain what we have said and to be able to achieve it and we are hopeful that we should be able to do projects for about 6,500 km costing overall package size of about Rs 100,000 crore.
Q: What is the status of arbitration payment norms? Who will provide this arbitration payment? Does NHAI have that much of fund to provide?
A: Yes, we do have requisite funds and government has assured us full support on that count. NHAI will be making the payments for arbitral awards in the case of NHAI and likewise all other organisations for their respective claims. We have certain standard operating procedures, so that these can go through seamlessly and expeditiously.
Q: How much that fund would be that has been set aside and how soon can we expect the awarding?
A: We haven't received the formal detailing from the contractors who have these arbitral awards in their favour. They need to submit bank guarantees and other such papers. So once they come in we will bring it on case by case basis.
Q: When can we expect bids for toll, operate and transfer model?
A: We are presently packaging these projects, getting the viability reports prepared in a manner which will be useful for those who want to bid for these projects and once those are ready then we will package them out and get the necessary official clearances and bid them out.