‘Rising debt levels, soaring land prices may force NHAI to go slow on new projects’
MUMBAI: Soaring debt which has jumped eight-times in the past five years, and a steep rise in land prices may force the state-run National Highways Authority (NHAI) to focus on execution of ongoing projects instead of awarding new roads, warns a report.
The rating agency CrisilNSE 0.47 % expects the awarding of all hybrid annuity model (HAM), EPC and build-operate-transfer (BOT) road projects to moderate to 12,000-13,000 km over fiscals 2020 to 2022 compared with 14,000 km over fiscals 2017 to 2019.
