MoRTH approves ownership for BOT toll projects to one year after COD
ROADS & HIGHWAYS

MoRTH approves ownership for BOT toll projects to one year after COD

The Ministry of Road Transport and Highways (MoRTH) has approved changes to the Model Concession Agreement (MCA) for Build-Operate-Transfer (BOT-toll) projects, allowing for the change of ownership from the existing two years to one year after the Commercial Operation Date (COD).

Previously, the change of ownership of such companies was permitted two years following the start of operations.

According to the media sources, the concessionaires requesting a change of ownership should not be in arrears on premium payments to the government-owned National Highways Authority of India (NHAI).

The Inter-Ministerial Committee (IMC) discussed a modification in ownership terms in the MCA of the BOT (Toll) project at its meeting on April 1, 2022.

IMC agreed to the suggestion allowing for a change of ownership from two to one year following COD.

Following that, the plan was accepted by road transport and roads minister Nitin Gadkari.

Image Source

Also read: NHAI to develop an expressway connecting Kurnool to Solapur

The Ministry of Road Transport and Highways (MoRTH) has approved changes to the Model Concession Agreement (MCA) for Build-Operate-Transfer (BOT-toll) projects, allowing for the change of ownership from the existing two years to one year after the Commercial Operation Date (COD). Previously, the change of ownership of such companies was permitted two years following the start of operations. According to the media sources, the concessionaires requesting a change of ownership should not be in arrears on premium payments to the government-owned National Highways Authority of India (NHAI). The Inter-Ministerial Committee (IMC) discussed a modification in ownership terms in the MCA of the BOT (Toll) project at its meeting on April 1, 2022. IMC agreed to the suggestion allowing for a change of ownership from two to one year following COD. Following that, the plan was accepted by road transport and roads minister Nitin Gadkari. Image Source Also read: NHAI to develop an expressway connecting Kurnool to Solapur

Next Story
Infrastructure Urban

BorgWarner extends transfer case business with North American OEM

BorgWarner, a global product leader in delivering innovative and sustainable mobility solutions, is furthering its business with a major North American OEM by securing extensions on two transfer case contracts for upcoming vehicle launches with new platform requirements. BorgWarner will supply two types of transfer cases, including its active Electro-Mechanical On-Demand 2-Speed (EMOD) and a part-time Electric Shift-on-the-Fly 2-Speed (ESOF) transfer case. Two of the OEM’s combustion and hybrid passenger truck platforms will be equipped with the EMOD and ESOF, while an additional passenger t..

Next Story
Infrastructure Transport

CII partners with Hunch Mobility for Urban Air Mobility Expo 2025

The Confederation of Indian Industry (CII) has announced its partnership with Hunch Mobility to host the upcoming Urban Air Mobility Expo 2025. This significant event aims to showcase advancements in urban air mobility, a rapidly evolving sector that promises to revolutionize urban transportation. Scheduled for 2025, the expo will serve as a platform for industry leaders, innovators, and policymakers to converge and discuss the future of air transport within urban environments. Key topics will include technological innovations, regulatory frameworks, and infrastructure development necessary f..

Next Story
Infrastructure Urban

HCL Tech opens first delivery centre in Kochi

HCL Technologies has officially inaugurated its first delivery centre in Kochi, marking a significant expansion in its operational footprint in India. This new facility aims to enhance the company’s capabilities in delivering a wide range of technology services to its clients. The Kochi delivery centre will focus on various areas, including software development, IT services, and digital solutions, contributing to HCL's commitment to driving innovation and improving service delivery. With this initiative, HCL Tech aims to tap into the region's growing pool of skilled talent, particularly in ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000