• NHAI moves to address concerns over new hybrid model: Sources

    The National Highways Authority of India (NHAI) has moved to address concerns of lenders over its new hybrid annuity model (HAM) that it unveiled recently to push the pace of highway construction in India. Sources have told CNBC-TV18 the highways authority may move in a month or two to address concerns raised by lenders over various aspects of the agreement of such projects such as low level of compensations in case of project delays or cancellation, limited promoter equity etc. The NHAI had awarded 11 projects as of March 31, 2016 but lenders had been hesitant to fund such projects. Sources now say that one project under hand has already attained financial closure that is the Delhi-Meerut Expressway package-1 by Welspun Enterprises. Two other projects which are likely to attain financial closures are Meerut-Bulandshahar National Highway and Delhi-Meerut Expressway package-3. Marc Staal Jersey

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