Category: Roads

Following the lockdown, the Ministry of Road Transportation and Highways (MoRTH) has suspended collection of tolls on all national highways for the 21-day period. The constrained vehicular movement in the run up to the lockdown will also push the toll collections into the negative territory for FY20. Already, the performance of toll road projects remained […]

The country-wide lockdown imposed by the government to check the spread of cornonavirus has resulted in construction companies announcing a shutdown of operations. This is likely to delay implementation of projects, leading to cost overruns and impacts on the workforce. Typically, the fourth quarter accounts for about 30-35 per cent of annual revenues for construction […]

A slowing pace in awarding road projects will significantly impact the top-line growth of engineering, procurement, and construction (EPC) developers, from 30 per cent in 2019 to 10 per cent in the near term. According to ratings agency CRISIL, the sector once again, seems to be facing many roadblocks — slowdown in awards, delays in […]

Maharashtra’s Public Works Department Minister Eknath Shinde announced that a four-lane expressway will be built to enable people travel from Mumbai to Goa in 5 hours. Shinde, addressing the Upper House said that the expressway spanning the 500-km stretch will be built along the lines of Mumbai-Nagpur Expressway. The proposed expressway will begin at Chirle […]

Adani Enterprises Ltd has won a ₹1,546-crore project from National Highways Authority of India (NHAI) for building a stretch of NH-16 in Andhra Pradesh under Bharatmala Pariyojana. The project will be undertaken under the hybrid annuity mode. “The company led consortium has received a letter of award (LOA) from NHAI for … six laning of […]

PNC Infratech Ltd has bagged orders worth ₹3,582 crore from the National Highways Authority of India (NHAI) for widening of road projects in Uttar Pradesh. In a filing to the BSE, the company said it has received “letters of award (LOA) from NHAI on March 9, for the project of four-laning of the Aligarh-Kanpur section […]

RPP Infra Projects has bagged an order worth ₹77.52 crore in Tamil Nadu, according to a regulatory filing by the company. The order pertains to ‘rehabilitation and modernisation’ of anicut and channels in Thanjavur and Cuddalore districts of Tamil Nadu and is expected to be completed within two years, it added. The company’s stock was […]

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the overall infrastructure sector for FY21, while revising the outlook on toll roads and wind sector to negative from negative-to-stable and stable, respectively. Contracted revenue, minimal volume risk and moderate-to-strong counterparties mitigate cash flow concerns in solar assets, while economic growth deceleration affects the […]

The Mangaluru chapter of Confederation of Indian Industry (CII) has urged the Karnataka government to study the viability of implementing six-lane road connectivity project between Bengaluru and Mangaluru. In a memorandum to Jagadish Shettar, Karnataka Minister for Large and Medium Scale Industries, the CII said that an elaborate plan for a six-lane road connectivity project […]

FASTag lanes across 30 NHAI toll plazas will be converted into hybrid lanes, according to an official statement by the Press Information Bureau released on Monday. The Government had announced the FASTag mandate in July 2019 converting all lanes of National Highways fee plazas, except one into FASTag lanes effective from December 2019. National Highway […]

The National Company Law Appellate Tribunal (NCLAT) on Wednesday dismissed the pleas of debt-ridden IL&FS auditors — Deloitte Haskins & Sells and KPMG arm BSR & Associates — challenging their impleadment in the case involving alleged fraud in IFIN, a subsidiary of IL&FS. A two-member NCLAT bench led by Chairman Justice SJ Mukhopadhaya dismissed the […]

Despite financial closures improving, land acquisition issues have delayed 60 per cent of road projects. The main reasons can be attributed to the delay in land acquisition and tight liquidity conditions. “Till date, out of the 24 projects due for completion, 15 projects have witnessed delays in execution,” noted Rajeshwar Burla, Vice-President, Corporate Ratings, ICRA. […]