Mumbai: The National Highway Authority of India (NHAI) has paid Rs 693 crore to IL&FS Transportation Networks (ITNL) as compensation for contracts related to Kiratpur Ner Chowk Expressway (KNCEL) and Chenani Nashri Tunnelway (CNTL).
The bulk of the payment (Rs 673 crore) was paid in respect of KNCEL, while Rs 20 crore was paid to settle claims of CNTL. With these two projects, NHAI and the ministry of road transport and highways (MoRTH) have settled aggregate IL&FS claims of over Rs 1,804 crore across six road projects. KNCEL was foreclosed under the MoRTH guidelines of March 2019 for stalled and incomplete projects. CNTL is a completed project, earning annuities, and Rs 20 crore is the claim amount towards the change of scope.
Earlier, Fagne Songadh Expressway (FSEL), a 100% subsidiary of ITNL, completed its settlement with NHAI receiving Rs 707 crore. There is a pending settlement of Rs 902 crore for the Khed Sinnar Expressway project and Rs 171 crore for the Amravati Chikli Expressway from NHAI.
