NHAI-SBI inks pact to start stalled projects
While the promoters of the three projects would give around Rs. 100-cr and that the SBI has to give up its first claim on the projects and its revenue stream; NHAI will be allowed to first recover money as the banks already have exposure of about Rs. 2,000-cr in the three projects. In two cases, the disbursed sum is more than the originally estimated cost. Now, the banks will specify a standard operating procedure for each and NHAI would recover the funds by charging the developers an interest rate of 2 per cent above the bank rate, chairman of NHAI, Raghav Chandra, said.
Published on:
22 July 2016
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