GVK Group wants out of 330-km highway in MP
GVK spokespersons refused to comment. NHAI sources say some more cancellations may be likely over the next few weeks, considering the grounds being cited by GMR and GVK are somewhat similar.
The 330-km road project, under Phase IV of the National Highways Development Project (NHDP) was awarded to the GVK group’s GVK Shivpuri Dewas Expressway Pvt Ltd in August 2011, though the concession agreement was signed only in January this year. Unlike in the GMR case where it took 16 months for the group to issue a ‘notice of intent to terminate’ the concession, the GVK Group sent its first letter of displeasure to NHAI in less than a year.
Towards the end of June, GVK Expressway told NHAI that a force majeure event had taken place after a Supreme Court verdict in February. In Deepak Kumar etc vs State of Haryana and Others etc, the Court directed that an environment
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