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Total value of asset monetisation in national highways hits Rs 1 trn mark

NHAI raises Rs 15,624 crore through InvIT

FY24 asset monetisation falls short of target at Rs 1.50 trn: Official

The central government and Central Public Sector Enterprises are estimated to monetise assets worth Rs 1.50 lakh crore in the current fiscal, a tad lower than the targeted of Rs 1.75 lakh crore, a senior official said. Under the National Monetisation Pipeline, the aggregate monetisation potential of the central government's brownfield infrastructure assets has been estimated at Rs 6 lakh crore over a four-year period, from FY 2022 to FY 2025. In an interview to PTI TV, the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said about Rs 1.75 lakh crore was the target for asset monetization this year and "we are going to achieve something like Rs 1.50 lakh crore through monetisation". Pandey said monetisation is going on through infrastructure investment trust (InvITs), Toll Operate Transfer (TOT) in mining, road and power sector and is beginning to happen in the petroleum sector. "The asset monetisation proceeds do not visibly appear in the ..

Jammu-Srinagar national highway remains closes, 400 vehicles stranded

The arterial Jammu-Srinagar national highway remained closed for the second day on Friday due to landslip at various places, officials said. Authorities were trying to clear the landslip debris and restore the traffic on the road connecting Kashmir to rest of the country. More than 400 vehicles are stranded at various places along the highway, the officials said. The 270-km road was closed for traffic on Thursday following landslip at several places, including Sherbibi, Magerkote, Mehad Cafeteria and Dalwas, along the highway, the officials said.

IRB Infra Trust wins Rs 1,720 cr arbitration award for highway project

Yedeshi Aurangabad Tollway Ltd (YATL), a special purpose vehicle of IRB Infrastructure Trust, has won an arbitration award of Rs 1,720 crore for a highway project, a statement said on Sunday. The YATL had initiated arbitration proceedings against the National Highways Authority of India (NHAI) after the authority disputed the company's claim for the extension of the concession period by 870 days and compensation of Rs 1,751 crore, the statement said. IRB Infrastructure Developers Ltd is the sponsor of IRB Infrastructure Trust. IRB was the EPC contractor for YATL and continues to be the project manager for YATL. The arbitration was based on the compensation payable to the IRB towards time and cost overrun suffered during the construction period on account of delays attributable to the NHAI and certain Force Majeure events, it added. After thoroughly hearing both sides, the statement said the Arbitration Tribunal has directed NHAI to pay compensation of Rs 1,720 crore including Inter

SJVN signs agreement to provide technical consultancy services to NHAI

State-owned power producer SJVN on Monday said it has signed an agreement with NHAI to provide technical consultancy services for highway projects. The agreement was signed in the presence of NHAI Chairman Santosh Kumar Yadav and SJVN Director (Projects) Sushil Sharma in the national capital, SJVN said in a statement. "SJVN CMD Nand Lal Sharma has informed that SJVN has inked a Memorandum of Understanding (MoU) with the National Highways Authority of India (NHAI). The primary focus of this MoU is to utilise the expertise of SJVN in Technical Consultancy Services," it said. SJVN will review slope protection works at various locations, particularly on the hillside from the Parwanoo-Solan-Shimla section of NH-05, Kullu Manali Highway, and various NHAI projects located in Himachal Pradesh, the company said. Furthermore, SJVN will provide design review services, peer review services, and technical vetting of designs of NHAI and will also monitor the construction works and recommend ...

53 road projects worth Rs 2 trn identified to be bid out with major reforms

NHAI proposes major reforms in BOT projects

FASTags with incomplete KYC to be deactivated after Jan: How to update info

FASTag, operated by the NHAI, is an electronic toll collection system in India that uses Radio Frequency Identification technology for making toll payments

KKR-backed Invit snaps up 12 road projects for Rs 9,005.70 crore

The road portfolio comprises 11 hybrid annuity concessions from the National Highways Authority of India (NHAI) and one toll road concession from the Uttar Pradesh State Highways Authority (UPSHA)

Highway Infrastructure Trust to acquire 12 road projects for Rs 9,005 cr

Highway Infrastructure Trust has signed definitive agreements with PNC Infratech Ltd and PNC Infra Holdings Ltd for acquisition of 12 road projects at an enterprise value of Rs 9,005.7 crore. The target portfolio comprise 11 Hybrid Annuity (HAM) concessions from NHAI and 1 toll road concession from Uttar Pradesh State Highways Authority (UPSHA) and represents about 3,800 lane kms in the states of Rajasthan, Uttar Pradesh, Madhya Pradesh and Karnataka, Highway Infrastructure Trust (HIT) said in a statement. Out of the 12 projects, 10 projects are currently operational and balance 2 projects are under-construction, which will be acquired post commencement of operations, the trust said. "We look forward to integrating these assets into our portfolio and to continue our journey of high-quality asset management backed by world class ESG standards," said Neeraj Sanghi, Chief Executive Officer, Highway Concessions One (Investment Manager to HIT). Gaurav Chandna, Head Strategic Finance, .

FASTags with incomplete KYC to be deactivated post Jan 31, says NHAI

State-owned NHAI on Monday said FASTags with valid balance but with incomplete KYC will get deactivated by banks post January 31, 2024. To enhance efficiency of electronic toll collection system and provide seamless movement at toll plazas, NHAI has taken 'One Vehicle, One FASTag' initiative that aims to discourage use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle, a company statement said. NHAI is also encouraging FASTag users to complete 'Know Your Customer' (KYC) process of their latest FASTag by updating KYC as per RBI guidelines,it added. To avoid inconvenience, the statement said users must ensure that KYC of their latest FASTag is completed. It added that FASTag users must also comply with 'One Vehicle, One FASTag' and discard all the earlier issued FASTags through their respective banks. "Only the latest FASTag account shall remain active as previous tags will be deactivated/blacklisted after 31st January 2024," the statement ..

Gadkari raises concerns over 'poor quality DPRs' for highway construction

Union Minister Nitin Gadkari on Tuesday expressed concerns over poor quality of Detailed Project Reports (DPRs) prepared by consultants for the construction of highways, saying that no good work has been done in this regard in the last 10 years. Addressing an event here, Gadkari said some officers of state-owned NHAI are responsible for bankruptcy of various infrastructure companies. "In the last 10 years, no good work had been done in preparation of DPRs... I am worried about the poor quality of DPRs prepared by consultants," the road transport and highways minister said. He added that it is regrettable that full payments are not made to DPR consultants by the government. Gadkari said the entire effort in the ministry is to float the tender for construction of highways, without focus on the quality. There is not a single highways project that does not have black spots, he added. Gadkari exhorted NHAI to hire competent people for DPR preparation for the construction of highways.

NHAI, National Remote Sensing Centre to develop green cover index

The National Highways Authority of India (NHAI) has signed an agreement with the National Remote Sensing Centre (NRSC) to develop a "Green Cover Index" for the extensive network of National Highways in India, an official statement said on Wednesday. According to the statement, since the initiation of the Green Highways Policy in 2015, the prioritization of greening Highway Corridors has been a focal point for the Ministry of Road Transport and Highways (MoRTH) and NHAI and presently, the monitoring of plantations relies on site visits by field personnel. "Using the capabilities of emerging technologies to enhance in-situ data collection and supplement plantation management and monitoring, including performance audits conducted by NHAI, the NRSC will undertake a comprehensive pan-India estimation of green cover, referred to as the "Green Cover Index" for National Highways using high-resolution satellite imagery," the statement said. It will also facilitate targeted interventions in .

Road projects likely to hit slow lane ahead of 2024 Lok Sabha elections

Bharatmala's cost has nearly doubled from Rs 5.35 trillion to Rs 10.6 trillion and the Finance Ministry has asked MoRTH to go slow until Cabinet approval is received

Speed limit on Yamuna E-way to be reduced to 75 kmph next week; here's why

While light motor vehicles like two-wheelers and cars will be allowed 75 kmph, the speed limit for heavy vehicles like trucks and buses will be 60 kmph

3rd party to carry out inspection of 12 under-construction Himachal tunnels

Inspection and safety audit of 12 under-construction tunnels in Himachal Pradesh will be carried out by a third party and vertical drilling machines will be stationed near tunnels to be used in case an Uttarakhand-like situation arises, according to an NHAI official. National Highway Authority of India (NHAI) Regional Officer Abdul Basit on Friday said the safety audit will analyse all factors from rock stability to material used in the constructions and remedial steps would be taken as per suggestions in view of the Uttarkashi Silkyara tunnel incident in which 41 workers have been trapped for the past 13 days. A total of 68 tunnels measuring 85 km, which would reduce the road distance by about 130 km, would come up in the state, he told PTI on Friday. Of these, 12 have been constructed, 12 are under construction, work on 14 would start in six months while detailed project reports are being prepared for 30, he said. "We have given suggestion to put vertical pipes at tunnel ...

IRB Infra arm inks pact with NHAI for tolling project in Madhya Pradesh

IRB Infrastructure Developers on Friday said that its associate IRB Lalitpur Tollway has signed a concession agreement with the NHAI for tolling and operations and maintenance of the Lalitpur-Lakhnadon stretch of NH44 in Madhya Pradesh. The project involves paying upfront Rs 4,428 crore to NHAI for tolling and O&M of 316 km stretch of NH44 for a revenue-linked concession period of 20 years, IRB Infrastructure Developers said in a statement. The project is being executed by IRB Infrastructure Trust (Private InvIT), it added. The company has taken a step ahead in achieving financial closure for the project, the statement said. IRB Infrastructure Developers Chairman and MD Virendra D Mhaiskar said this is the company's second concession agreement for a toll-operate-transfer (TOT) project within a span of 6 months. "We look forward to bringing World Class travel and project management experience for commuters and other stakeholders of the project," he added.

NHAI to undertake safety audits of under-construction tunnels across India

The National Highways Authority of India (NHAI) will undertake a safety audit of all 29 under-construction tunnels across the country to ensure safety and adherence to highest quality standards, an official statement said on Wednesday. The statement by the Ministry of Road Transport and Highways (MoRTH) comes in the backdrop of collapse of under-construction Silkyara Tunnel in Uttarkashi on November 12. "NHAI officials, along with a team of experts from Delhi Metro Rail Corporation (DMRC) as well as other tunnel experts, will inspect the ongoing tunnel projects and will submit a report within seven days," the statement said. With a total length of about 79 km, the 29 under-construction tunnels are spread across the country with 12 tunnels in Himachal Pradesh, six in Jammu and Kashmir, two each in Maharashtra, Odisha, Rajasthan, and one each in Madhya Pradesh, Karnataka, Chhattisgarh, Uttarakhand, and Delhi. NHAI also signed a memorandum of understanding with Konkan Railway Corporat

Now, 10-15 years of experience a must for NHAI's contractor staff

This decision comes after the ministry faced criticism over the quality of highways, especially in sensitive areas like the hills

Insurance surety bond issued for NHAI monetization bid of TOT Bundle 14

State-owned National Highways Authority of India (NHAI) on Friday said it has accepted first insurance surety bond for the monetization program of the upcoming bid of Toll Operate Transfer (TOT) Bundle 14 to boost liquidity and capacity of bidders. In a statement NHAI said, this will be the first time this innovative instrument is being utilized as a Bank Guarantee (BG) in the road infrastructure sector for monetization of bids. Insurance surety bonds are instruments where insurance companies act as 'surety' and provide the financial guarantee that the contractor will fulfil its obligation as per the agreed terms. The Ministry of Finance has made e-BG and Insurance Surety Bonds at par with Bank Guarantees for all government procurement. According to the statement, NHAI has been working closely with Highway Operators Association of India (HOAI), SBI General Insurance and AON India Insurance to implement this initiative. "Insurance surety bond has been issued for NHAI monetization b

NHAI monetises highways worth Rs 6,584 cr via toll, operate, transfer mode

The two bundles (11 & 12) are Allahabad Bypass on NH19 in Uttar Pradesh and Lalitpur-Sagar-Lakhnadon section that passes through Uttar Pradesh and Madhya Pradesh