The National Highways Authority of India (NHAI) has terminated the work contracts of several companies due to faulty bidding for Public Private Partnership projects and EPC projects.
The National Highways Authority of India (NHAI) has terminated the work contracts of several companies, including Larsen and Toubro and Essel Infra, due to faulty bidding for Public Private Partnership projects and EPC projects. Among the projects of infra giant L&T that have been cancelled include a six-lane project in Pimpalgaon-Nasik-Gobde section in the state of Maharashtra. “The L&T has also been barred to bid for PPPs till March 28, 2019 and for EPC projects till March 28, 2018,” said official documents from the NHAI, which are with IANS. Essel Infra has been barred from bidding for PPPs till July 21, 2019 while it also cannot participate in EPC projects till July 21, 2018. Other companies whose projects have been cancelled and barred from participating in EPC and PPP projects include Hindustan Constructions, AMBA infrastructure, Soma Enterprises. Hindustan Construction has been barred to bid for PPPs till March 30, 2020.
“Barred to bid for EPC projects till March 30, 2019 and NHAI terminates 4 lane project in West Bengal,” said the official document.
Earlier, After putting up nine National Highways (NH) for monetisation that will garner $1 billion to the government, NHAI says it plans to auction a shorter bundle of 5 highways in the next tranche that could attract $500 million, an official said, according to PTI. The Cabinet last year had authorised National Highways Authority of India (NHAI) to monetise operational NH projects completed under public funding for potential monetisation using the toll-operate-transfer (TOT) model.