In a bid to revive the stagnating highways sector and bail out stressed projects, the National Highways Authority of India (NHAI) is planning to allow multiple projects. The NHAI board, is expected to approve nine projects that it has judged as eligible for relief. The policy allowing developers to defer their premium payments was finalised earlier this year under the committee appointed by the Prime Minister and headed by C Rangarajan, chairman of the PM’s Economic Advisory Committee.
About 15 projects have come up for premium restructuring so far and out of these, about nine are eligible for relief this year. The nine projects involve big infrastructure companies such IRB, Reliance Infrastructure and L&T, among others. The projects include six-laning of the Ahmedabad-Vadodara stretch, where the annual premium is about Rs 310 crore, and four-laning of the Beawar-Pali-Pindwara section, which involves an annual premium of about Rs 250 crore, among others.