Centre chalks out exit for road firms

New Delhi: To give a push to highways development in the country, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday allowed highway developers to exit projects two years after completion of their construction. This decision will help in unlocking investments to the tune of Rs 4,500 crore and the funds will be available for new highway projects.

CCEA also approved a special intervention for the projects that are at advanced stages of completion but are stuck due to lack of additional equity or lender’s inability to lend further. The Centre said that during the last few years, PPP  plans have not been able to attract bids due to lack of funds.