Cabinet Approves Project-Exit Policy For Highways Developers
On the decision to allow NHAI to intervene in languishing projects, the CCEA said the approval is for projects that are in advanced stage of completion but are stuck due to lack of additional equity or the lenders' inability to disburse funds further.
The statement elaborated that NHAI will provide funds to such projects from within its overall budget on a loan basis at a pre-determined rate of return.
"This loan is to be recovered along with interest as the first charge from the toll receipts immediately after completion of construction," the statement added.
Estimates with the government show that there are 16 projects that are languishing in various part of the country due to lack of funds.
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