TRANSPORTATION

Toll suspension: Highway developers to seek arbitration to recover around Rs 650 crore from NHAI

Most of the 162 build-operate-transfer (toll) concessionaires, including private equity players, have decided to take the arbitration route to recover around Rs 650 crore as interest and operation and maintenance (O&M) costs from the National Highways Authority of India (NHAI) for the 25-day toll collection suspension period.

Sources said the concessionaires are upset with the NHAI for not declaring the toll collection suspension period from March 26 due to the Covid-29 pandemic as a force majeure political event, and thus rescuing itself from compensating the loss to concessionaires on the O&M and interest costs.

Source
financial express
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