Page 7 - Nhai

NHAI completes InvIT monetisation of Rs 16,000 crore through 'Round 3'

Fundraise includes 7,200 crore equity commitments from existing investors

National highways construction up, but govt may miss award target

Construction of highways in February stood at 1430 km in February, which is higher than the 1260 km it had achieved in February 2023, but shy of what the Centre had expected

NHAI asks Paytm FASTag users to switch to another issuing bank by March 15

NHAI has advised Paytm FASTag users to obtain a new FASTag from another bank before March 15 to ensure a smooth travel experience and avoid inconvenience at toll plazas, an official statement said on Wednesday. This will help avoid penalties or double fee charges while commuting on National Highways, as per the statement. Following the Reserve Bank of India's guidelines on restrictions concerning Paytm Payments Bank, the statement said Paytm FASTag users will no longer have the option to recharge or top-up their balance after March 15, 2024. However, they can continue to use the existing balance to pay tolls beyond the stipulated date, it added. NHAI also advised Paytm FASTag users to reach out to their respective banks or refer to the FAQs provided on the IHMCL (Indian Highway Management Company Limited) website.

NHIT plans to raise Rs 4,500 crore debt to buy two more road projects

The acquisition of road assets is set to be concluded in the fourth quarter

Nhai signs agreement with HLL Life Care for incident management system

State-owned NHAI has signed an agreement with HLL Life Care Ltd to strengthen incident management systems and assist accident victims on National Highways, an official statement said on Friday. The MoU will help NHAI to strengthen its existing incident management system, which includes ambulances, route patrol vans & cranes, real-time tracking, and supportive supervision, the statement said. This will improve response time and facilitate referral of accident victims to the nearest health facilities, establishing a seamless process for incident management, it added. The pact will include Operation & Management of Trauma Centres/Emergency Stabilization Centers to maximize assistance during the golden hour and improve health outcomes. In addition, HLL Lifecare Limited will provide services for comprehensive geo-tagging, mapping and engagement of health facilities and trauma centres across National Highways to enhance the emergency medical response by linking health facilities ...

Nagpur Outer Ring Road corruption: CBI arrests NHAI GM, DGM in bribery case

The CBI arrested two senior NHAI officials, General Manager Arvind Kale and Deputy General Manager Brijesh Kumar Sahu, and four others on Sunday in a bribery case involving an amount of Rs 20 lakh related to the Outer Ring Road Project in Maharashtra's Nagpur, officials said. Kale, a National Highways Authority of India (NHAI) project director in Nagpur, and Sahu, a project director in Madhya Pradesh's Harda, were arrested by the CBI along with the directors of Bhopal-based Bansal Construction Works Private Limited -- Anil Bansal and Kunal Bansal -- and employees of the firm Chhater Singh Lodhi and C Krishna, the officials said. "The Central Bureau of Investigation (CBI) carried out searches at five locations in Bhopal and Nagpur on Sunday, including residential and official premises, and recovered Rs 1.1 crore in cash, including the bribe amount of Rs 20 lakh," a spokesperson of the federal agency said in a statement. In its FIR in the matter filed recently, the CBI booked 11 peopl

CBI arrests NHAI general manager in alleged bribery case of Rs 20 lakh

The CBI has arrested a general manager of the National Highways Authority of India (NHAI) in an alleged bribery case of Rs 20 lakh in Maharashtra's Nagpur, officials said on Sunday. Arvind Kale, who is also a project director, allegedly received the bribe from a private company, they said. The Central Bureau of Investigation (CBI) recovered Rs 45 lakh cash, including the bribe of Rs 20 lakh, during a search operation following Kale's arrest, the officials said. A case has been registered against Kale and 11 others, including the private company, they said.

NHAI to extend 'One Vehicle, One FASTag' initiative deadline till March-end

State-owned National Highways Authority of India (NHAI) is likely to extend 'One Vehicle, One FASTag' initiative compliance deadline to March-end, in view of the problems being faced by Paytm FASTag users, a senior official said. NHAI had earlier proposed to implement 'One Vehicle, One FASTag' initiative from March 1. "In view of the Patym crisis, the FASTAg users may be given more time to shift to one vehicle-one FASTag norm," the official told PTI on condition of anonymity. To enhance the efficiency of the electronic toll collection system and provide seamless movement at toll plazas, the NHAI has taken the 'One Vehicle, One FASTag' initiative that aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle. Earlier this month, the Reserve Bank of India (RBI) had advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15. The RBI also said withdrawal or ...

Can courts modify/junk arbitral awards? Here's what experts have to say

Experts say the SC verdict regarding the modification of the arbitral award could be a double-edged sword

Road EPC firms' order book shrinks as highway tendering hits slow lane

The lack of orders is neither causing worry over credit-worthiness nor dampening enthusiasm

Paytm Payments Bank crisis: How to deactivate Paytm FASTag and buy new one

In the recently released FAQs, the RBI suggested users procure a new FASTag issued by a bank other than Paytm Payments Bank before March 15

NHAI removes Paytm Payments Bank from FASTag authorised service list

The National Highway Authority of India's list contain a total of 30 payment banks, scheduled commercial and small finance banks, that are authorised for FASTag services

GPS-based toll collection system in India: Things to know about this tech

Nitin Gadkari said that it has been decided to initially implement the GNSS-based Electronic Toll Collection (ETC) System at selected sections of National Highways

RBI to meet NHAI, NPCI to discuss rescue plan for Paytm PB users: Report

NPCI oversees the United Payments Interface payments, and NHAI operates the FASTag service

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