GVK terminates expressway deal

GVK Power & Infrastructure has informed the stock exchanges that it has terminated an agreement between the National Highway Authority of India (NHAI) and GVK Deoli Kota Expressway Pvt Ltd, a step-down subsidiary.

Following the move, GVK on Monday handed over the toll operations of the expressway to the NHAI, it added. The concession agreement had been signed in May 2011.