NHAI settles NH-21 project with IL&FS for Rs 672 crore
New Delhi: The National Highways Authority of India (NHAI) has settled a road project with Infrastructure Leasing & Financial Services (IL&FS) at Rs 672 crore, one of the first as the debt-laden group moves to resolve stuck projects through conciliation.
“The first of the IL&FS settlements has been finalised,” a government official told ET. “This (the Kiratpur-Nerchowk Expressway) is a significant one. There are three to four more small projects that will be resolved soon,” said the official, asking not to be identified. IL&FS was entrusted with four-laning the section of NH-21in Punjab and Himachal Pradesh, to be executed as buildoperate-transfer, or BOT (toll), on DBFO pattern under NHDP Phase-III, as per the website of IL&FS Transportation Network (ITNL). “We have resolved one project of IL&FS through the conciliation process,” said a second official.
