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Friday, May 23, 2014

NHAI approves 9 Proposals for Deferment of Premium

The Board of NHAI considered 9 proposals for deferment of premium and approved the same. In all, these 9 proposals involve deferment of premium for a total value of Rs. 5959.93 crores. The period during which such deferment is considered spans the period 2014-15 till 2026-27, with the deferment granted during 2014-15 amounting to Rs. 651.30 crores.
Projects for which deferment permitted
Godhra-GUJ/MP border 4 laning (BSCPL)
Beawar-Pali-Pindwara 4 laning (L&T)
Rohtak-Panipat 4 Laning ( Sadbhav )
Hyderabad-Yadgiri 4 laning (Sadbhav)
Samakhiyali-Gandihidham 6 laning (L&T)
Ahmedabad –Vadodara 6 laning (IRB)
Tumkur-Chitradurga 6 laning (IRB)
Indore-Dewas 6 laning (Gayatri-DLF)
Hosur-Krishangiri 6 laning (Reliance Infra)
This step would give huge comfort to the lenders as debt obligation would now get priority over the premium payable to NHAI. NHAI would be able to recover the deferred premium with interest in the latter period of the concession. The deferment shall be limited to the actual revenue shortfall after meeting the debt obligation and operation expenditure. The concessionaire would not be allowed to declare any dividend until the shortfall in premium is made good. The concessionaire would also be required to share their toll collection data with NHAI on real time basis.