Five firms exit highway projects as NHAI faces delay in land acquisition
Oriental Structure Engineers, Chetak Enterprises, KNR Constructions, Sadbhav Infrastructure Projects and a joint venture of IRB infrastructure Developers and Modern Road Makers are among the companies that have exited contracts as the National Highways Authority of India (NHAI) failed to give official approval for the execution of projects.
According to the norms, the NHAI gives an appointed date or official date for the road developer to start work. However, in many cases, the authority failed to provide this date due to delay in land acquisition.
It is learnt that the five companies have surrendered eight projects across various states. “The delay witnessed in receiving the appointed date for hybrid annuity model or HAM projects is largely on account of land acquisition issues.
