NHAI had earlier planned to go for private placement in order to raise funds faster but later decided to go in for the public issue due to the prevailing interest rate scenario.
The prime minister's committee on infrastructure has finalised a proposal for restructuring the National Highway Authority of India.
The B K Chaturvedi committee set up to recommend ways to implement road projects faster and more efficiently, has recommended that the National Highways Authority of India be given sovereign guarantees on the loans it raises from the market.
The NHAI project director and a retired army brigadier, who was running a consultancy service for NHAI, had been named by murdered NHAI engineer Satyendra Dubey in a letter alleging large-scale bungling in highway construction projects.
Highways regulator the National Highways Authority of India (NHAI) has exceeded its toll revenue target in the fiscal 2008-09, collecting taxes to the tune of Rs 1,702 crore (Rs 17.02 billion).
"We have conveyed this to the road transport ministry. We go for environment approval for all land we acquire, but land with environment issues requires more approvals," said a senior NHAI official, who did not want to be identified.
Kashmir remained cut-off from the rest of the country for the second day on Thursday with road and air links to the Valley snapped due to snowfall, the heaviest in a decade in the month of January.
At least 27 Indian pilgrims, all from Maharashtra, who arrived in Nepal for a 10-day tour were killed and 16 others injured after their bus veered off the highway and fell into a fast-flowing river in central Nepal on Friday.
The abduction of a 50-year-old engineer in Kokrajhar district, western Assam, by suspected militants belonging to the anti-peace talks faction of the National Democratic Front of Bodoland has left the East-West Corridor project of the National Highway Authority of India in lurch.
Expressway construction is part of the sixth phase of the National Highways Development Programme.
The most pernicious abuse of the toll system is the VIP syndrome. Most toll plazas carry a long list of VIP vehicles that are exempt from payment and others have to compensate for them.
It seeks an inquiry commission to probe who leaked the name of the NHAI official, which seemingly led to his murder.
IRFC, NHAI, Hudco and others to hit the market in next few months.
Senior finance ministry official said the economic affairs department cleared the proposals on Friday.
The road transport ministry has asked the National Highways Authority of India (NHAI) to ascertain the findings of a report by the World Bank's Institutional Integrity Unit. According to the report, contractors paid bribes and gifts to influence the actions of NHAI officials and consultants.
The 100-km stretch of Mumbai-Ahmedabad highway claimed at least 62 lives.
Among other things, the Golden Quadrilateral project will be extended from Silchar (Assam) to Kohima.
The CBI had registered a case against the four for allegedly entering into a criminal conspiracy and engaging in corrupt practices in the award of contract.
NHAI expected to be debt-free by 2030-31 and added the authority, which raised about Rs 14 billion (Rs 1,400 crore) in 2009-10 through capital gains tax exemption bonds, planned to mobilise Rs 40 billion (Rs 4,000 crore) in the current financial year.
A special Central Bureau of Investigation court in Patna on Saturday sentenced life-imprisonment to three men, convicted of murdering Satyendra Dubey, a National Highway Authority of India engineer, on November 27, 2003.
'The scheme excludes tractors, light commercial vehicles, and medium and heavy commercial vehicles.'
Updates on the NHAI activities will be available on Facebook, including information on its targets and achievements, among other things.
After the Planning Commission rejected its financing plan for the second time, the National Highways Authority of India (NHAI) is preparing a new draft plan. The earlier proposals were rejected citing that NHAI would find it difficult to borrow funds from the market.
Section 54EC bonds give positive returns, despite a lock-in and tax on interest income.
At a time when some institutions have been dithering over lending to the National Highways Authority of India, doubting its financial strength, the agency is in talks with the country's largest lender, State Bank of India, to borrow up to Rs 10,000 crore (Rs 100 billion) at 8-8.5 per cent.
On his third death anniversary, even the probe into his murder has not progressed.
According to a survey, of the 190 infrastructure projects facing delays, 70 per cent were delayed due to land acquisition problems. Forty projects by NHAI, 60 being implemented by Indian Railways and 28 power projects are facing difficulties in acquiring land. SLUs would expedite the time taken.
The meeting lasted for about two hours and a host of issues pertaining to the building of the corridor were discussed, an official said.
Over the years, NHAI's expenses have spiraled due to sharp increase in land acquisition costs, while budgetary support has shrunk, leading it to fall back on internal resources and market borrowings
The United States-based software company Bentley Systems is eyeing major contracts in railways, roads, telecom, electricity, gas and water following government decision to invest over Rs 60,000 crore (Rs 600 million) in the infrastructure sector.
The engineer's murder is being linked to his letter to the PMO regarding improper utilisation of funds and the sub-standard quality of work in the Golden Quadrilateral Project.
The family of National Highway Authority of India whistleblower Satyendra Dubey, whose murder in 2003 had sparked nationwide outrage, said on Saturday that it was not happy with the sentencing of three people in the case as "real culprits" are yet to be punished.
Three men were on Monday convicted of murdering young NHAI engineer Satyendra Dubey who paid with his life after he blew the whistle on corruption in the Golden Quadrilateral project in Bihar.
The move, if accepted, will help resolve nearly one-third of the 1,200 cases on payments pending in various courts in the country.
The National Highways Authority of India (NHAI) has been told to work on awarding contracts for around 100 projects, covering 11,151 km, over the financial year starting April 1.
