NHAI to extend contract for private highway developers

To provide relief to infrastructure companies, the government has given a three- to six-month extension to all private highway developers whose contracts ended on or after February 20, 2020. Any concession fee or premium payable to the government has been deferred for all private national highway projects for the same period for which they incurred losses in toll collection because of the lockdown. Besides, the toll collection period for existing contracts has been extended by 21 days. Moreover, the number of days can be increased in proportion to the loss incurred in the toll fee during the lockdown phase, if it is less than 90 per cent of average daily collections. The contract period will be extended by a day if the loss is 25 per cent of the daily collections.