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Sadbhav Infrastructure Projects' SPV terminates Concession Agreement with NHAI

Capital Market 

Sadbhav Infrastructure Projects announced that Vizag Port Road (a Wholly Owned Subsidiary Company or SPV) has executed Supplementary Agreement to Concession Agreement with National Highways Authority of India (NHAI) towards termination of Concession Agreement dated 3 May, 2018 due to non-availability of required 80% of right of way by NHAI within stipulated time period.

With this, Concession Agreement dated 3 May, 2018 shall cease to be in existence and will be treated as terminated with mutual consent of the parties without any outstanding claims on each other.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 23 2019. 11:27 IST