A sigh of Covid relief: Toll and HAM projects may benefit

In FY2021, the Government of India announced various liquidity measures under ‘Atmanirbhar Bharat’ financial package. Soon after, Ministry of Road Transport and Highways (MoRTH) and National Highways Authority of India (NHAI, rated CARE AAA and Stable) followed the suit by announcing slew of measures for the road sector in a bid to boost liquidity for roads  developers against the backdrop of Covid 19 pandemic and resurrect investor confidence. These measures have been extended on a time-to-time basis by NHAI. On 1 July 2021, NHAI proposed to MoRTH to continue the benefits till 30 September 2021 in addition to grant of extension of time (EoT) under Covid-II. 

In CARE Ratings’ view, if the proposal is accepted, the likely extension of relief measures shall augur well for the road  developers of under-construction Hybrid Annuity Model (HAM) projects primarily in terms of EoT for completion and additional time for achieving financial closure. Presently, the road developers or sponsors are entitled to these benefits under the Atmanirbhar Bharat package announced in FY2021. The proposed grant of extension of concession period for  operational toll road projects is in alignment with the existing provisions of Concession Agreement. On an overall basis, in CARE Ratings’ opinion such extension in concession period for toll projects shall be limited to about 20 days. 

Ceigall 2.0 has begun and the journey ahead looks promising

"We are a nearly 23-year-old company and if I had to define Ceigall, it’s simple – what comes on the road, we build it,” said Ramneek Sehgal, Managing Director of Ceigall India, which is known for its ability to deliver complex projects on time, such as the successful completion of the Katra Expressway. “Ceigall is making its mark in India's construction landscape. From highways, expressways and elevated roads to railways, metro railways, runways and tunnels – you name it, we do it. Beyond roads, we’re also into utilities and solar energy projects. We've already installed thre..

Hyderabad Ranked Fastest Growing City for Infra Development

Hyderabad has emerged as the fastest-growing city in India among the top six, excelling in key areas such as governance, socio-economic profile, physical infrastructure, and real estate. According to the latest India Prime City Index report by Knight Frank India, the city has experienced remarkable growth, driven by extensive infrastructure projects, a surge in real estate demand, and a rising population of ultra-high-net-worth individuals (UHNWIs) and high-net-worth individuals (HNWIs). Proactive policy initiatives have also played a role in enhancing the city’s socio-economic landscape. F..

Tamil Nadu Explores PPP Route for Rs 4,500 Crore Power Transmission Project

In a pioneering move, the Tamil Nadu Transmission Corporation (Tantransco) is venturing into the tariff-based competitive bidding (TBCB) model to develop a new greenfield 765/400 kV substation in the Coimbatore region. This initiative, part of a larger power transmission project worth Rs 4,500 crore, also includes the development of 240 kilometers of transmission lines extending from Ariyalur to Tirupur, where the new facility will be established. This decision marks a significant shift from traditional state-funded projects to public-private partnership (PPP) models. The 765 kV substation, lo..