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Mastercard just gave the country its first unicorn of 2020

Pine Labs will work with Mastercard to deliver a range of card and real-time payments.
The Economic Times



NHAI clears IL&FS claims of Rs 902 crore

The Khed-Sinnar Expressway (KSEL) is the third incomplete road project of IL&FS whose claim has been cleared by the highways authority.

Will audit performance of NHAI officials: Nitin Gadkari

Minister of road transport and highways Nitin Gadkari said that while there were prob...

NHAI eyes law tweaks to form land banks

NHAI plans to seek amendments in the National Highways Act to acquire more land to create land banks.

ET Prime Distribution
  • The government will roll out the option of cash recharge for FASTags to accelerate its adoption.

    “We will do more of EPC projects at the moment,” Gadkari told ET in a brief interaction. With the ministry’s priority being monetisation of assets, engineering, procurement, construction (EPC) — which is entirely funded by the government —is the preferred mode of project award, Nitin Gadkari said.

    The National Highways Authority of India (NHAI) has settled a road project with Infrastructure Leasing & Financial Services (IL&FS) at Rs 672 crore, one of the first as the debt-laden group moves to resolve stuck projects through conciliation.

    Among the corridors NHAI proposes to build are—Ahmedabad-Dholera, Delhi-Amritsar-Katra, Chennai-Bengaluru, Kanpur-Lucknow, Bangalore Ring Road, Amritsar-Bhatinda-Jamnagar, Hyderabad-Raipur, and Nagpur-Vijayawada.

    The Narendra Modi-led government has decided to institute a major study into over 6,000 km of national highways which covers over a dozen states, including the North-South and East-West corridors, to upgrade them to “global standards”.

    H G Infra Engineering Ltd bagged a highway project worth Rs 522 crore from the National Highways Authority of India (NHAI). The completion period for the project, which has a total length of 14.40 km, is two years, the filing said.

    The highest daily toll collection via electronic system of FASTags has also been recorded at Rs 50 crore (single day collection) in January 2020 as compared to Rs 23 crore in November 2019.

    The National Highways Authority of India (NHAI) is looking to settle a majority of its arbitration cases, with claims running over Rs 70,000 crore, through conciliation, a move that is likely to reduce its liabilities.

    The National Highways Authority of India (NHAI) won’t issue work order for highway projects under the public private partnership (PPP) mode unless it has 90% of the land is in its possession and without obtaining all statutory clearances.

    Reliance Infrastructure will use 100 per cent of the proceeds from the sale to pay lenders .

    Foreign pension funds and private equity funds were showing more interest in India’s highway road assets within the infrastructure space given the policy issues involved with various states in other infrastructure asset classes, Asheesh Sharma, member (finance), the National Highways Authority of India (NHAI) said.

    This comes after NHAI raised ‘concerns’ regarding high cash transactions at 65 identified toll plazas in the country. Around 535 toll plazas under NHAI have been equipped with ETC infrastructure, and barring 65 of these, the remaining toll plazas have to mandatorily convert all lanes barring one in each direction into FASTag lanes January 15 onwards.

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