Shares of IRB Infrastructure skid 14 per cent on the BSE, to hit an over 5-year low of Rs 90 apiece, dragged by heavy selling pressure. The heavy sale volume was witnessed after a news report said the National Highways Authority of India (NHAI) was planning to find a new operator for the Mumbai-Pune Expressway afer the company’s agreement ends in August.
Even as it had to abort the second round of auction under the toll-operate-transfer (TOT) model due to lack of investor interest, the National Highways Authority of India (NHAI) is not going slow on its plan to monetise its operational projects. According to official sources, the authority, which is in need of funds to repay debt and build new highways, will soon invite requests for proposal (RFPs) for two TOT tranches, measuring a total of 970 km, hoping to garner at least Rs 9,000 crore through this model in FY20.
The Maharashtra killing of 15 specially trained policemen in a Naxal attack earlier this week may have become a "normal" occurrence for some in the left wing extremist areas, but there are some unsung heroes who have to keep the journey going.
National Highways Authority of India (NHAI) is considering putting the second package of Toll-Operate-Transfer (TOT) for rebid after tepid response, which may impact the sale of subsequent TOT packages.
"Undesired" response from the industry has prompted the authorities to discuss whether the second TOT package should be put through the entire auction process.
The recently revised standard contract agreement for national highways Centrally-sponsored road works proposed to be implemented on EPC basis could lead to a decline in the pace of new project awards in the short to medium terms, with the pending land acquisition being a primary constraint, warns a report.
Our meetings with NHAI helped obviate any funding concerns towards their near-term commitments and on their ability to scale up pace of land acquisition. Key negatives include capacity constraints (consultants, concessionaires) to materially grow pace of ordering and weak response to its second ToT package.
There was limited clarity provided on ineligibility of bidding by construction companies that delay the execution of ongoing projects.
Despite the pace of highways projects undertaken by state-run National Highways Authority of India (NHAI) picking up in the last three years, it is likely to remain short by 33-37 per cent of its FY19 target of completing 6,000 km, says Icra.
With a strong unexecuted pipeline and concerted efforts on right of way, the NHAI is on a strong footing and is set to witness sustained growth in execution in FY2019, the highest ever over the last one decade (FY2010- FY2019), the agency said in a statement issued on Monday.
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