Infra Relief: Contractors get six months extension across segments
Bringing relief to contractors in the construction and infrastructure segments, all Central agencies have been directed to provide up to 6 months extension, without any cost to them, for obligations such as completion of assigned work. An announcement to this effect was made by FM Nirmala Sitharaman after the Prime Minister promised ₹20 lakh crore economic stimulus package to deal with the fallout of the Coronavirus pandemic. The relief for contractors covers construction, goods and services contracts. This includes Central agencies like Indian Railways, Roadways and Highway projects, Central Public Works Department, among others. The extension covers obligations by the contractor for completion of work, extension of concession period in Public Private Partnership contracts or any intermediate milestones. The government agencies have been directed to partially release bank guarantees, which will be executed to the extent contracts are complete, with an aim to ease cash flows.
📅Published on:
15 May 2020
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
Allcargo Logistics Limited has announced its initiative to enable FMCG companies to navigate increasingly fragmented inventory flows through integrated,
GHV Infra Projects Limited has secured a road construction and civil works contract worth Rs 815 crore from APCO Infratech Private Limited in Maharashtra.
JCB India announced the inauguration of a new facility of its dealer, Caculo Earthmovers in Karaswada, North Goa, further strengthening its presence in the
The Godhra–Vadodara section of the Delhi–Mumbai Expressway has been completed and opened for traffic on a trial basis from April 13, 2026, according to the
The Rajasthan State Industrial Development and Investment Corporation will invest Rs 1,200 crore to upgrade infrastructure across more than 450 industrial
Dubai has completed its first air taxi station near Dubai International Airport, marking a major step toward launching electric air mobility services later
Informa Markets in India is gearing up to host the 23rd edition of Roof India, Asia’s premier exhibition for roofing and allied products, from 23–25 April 2026
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
