NHAI to bring sweeping changes in PPP projects to attract private investment

To incentivize increased private investment, the National Highways Authority of India (NHAI) is instituting comprehensive revisions to contract conditions. A new provision will be introduced, allowing NHAI to repurchase tolled highway projects if a competing road or an additional tolled road emerges in proximity. The finalized changes also incorporate the commitment to settle 90% of outstanding loans to lenders before the termination of any contract in the event of default by contractors or the highway authority. This measure is designed to provide reassurance to banks and financial institutions, enhancing their confidence in the investment landscape.