NHAI resolves 49 pending claims worth Rs 10,550 cr

Posted By: Religare
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    The National Highways Authority of India (NHAI) as a part of its dispute settlement mechanism has so far resolved 49 pending claims for Rs 10,550 crores from 26 contractors/concessionaries for final packages worth of 958 crores, according to statement released by Ministry of Road Transport & Highways.

    In its 101st meeting on Thursday, the NHAI Board, resolved various disputes involving three contract packages worth over Rs 2348 crores for an amount of over Rs 271 crores only.

    All these settlements are made amicably after negotiations with the parties concerned and after screening of these proposals through three tiers. These include a Committee of three Chief General Managers, an Independent Settlement Advisory Committee (ISAC) and a final consideration / approval by the Executive Committee/Board of the NHAI.

    This mechanism was approved by the NHAI Board in November 2012, for speedy resolution of long pending disputes in EPC and BOT projects.

    The Minister for Road Transport, Highways and Shipping has directed the NHAI to expedite the process of one time settlement of old disputes pending in arbitration or in courts to take forward various pending projects.

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