Sadbhav Group: Land acquisition issues delay highway projects
Two highway projects of the Sadbhav Group — the Rudrapur Highway project and the Bhavnagar Highway project — are likely to get further delayed due to land acquisition issues, sources said. Earlier this week, ratings agency Crisil downgraded the long-term facilities of both the projects on account of construction delays.
On October 23, Crisil downgraded the long-term bank facilities of Rs 354.24 crore of Sadbhav Rudrapur Highway to ‘BBB/Stable’ from ‘A-/Negative’. The long-term loan facilities worth Rs 434.49 crore of Sadbhav Bhavnagar Highway were also downgraded to ‘BBB+/Stable’ from ‘A/Negative’.
