New Delhi: Total borrowings of National Highways Authority of India (chewing) has increased four times in the last five years, Ministry of Highways Told Rajya Sabha on Monday. At the end of March, the cumulative borrowings stood at around Rs 3.1 lakh crore as compared to Rs 74,742 crore in March 2017.
In written answer to a question from BJP admin Sushil Kumat ModiUnion Highways Minister Nitin Gadkari Said that NHAI has taken external borrowing of Rs 3,000 crore and in 2020-21 only, the highway authority has paid Rs 18,840 crore as interest.
On the mechanism being adopted to repay the loan, the Minister said, “NHAI creates valuable road assets which are economically viable. Since 2017, NHAI has constructed a total of 17,042 km of public funded roads with an expenditure of about Rs 4.08 lakh crore. Fully public funded road assets are being tolled. NHAI is also monetizing assets through TOT/INVIT mode to generate revenue for repayment of loans and further construction. Since 2017, NHAI has serviced its debt of Rs 74,337 crore. NHAI is conducting regular exercise to balance its assets and liabilities to ensure a sustainable debt level.
The minister also said that 140 arbitration cases are pending before various arbitral tribunals, in which contractors have claims of Rs 91,875 crore and NHAI Rs 44,600 crore. Another 240 cases are in courts with claims worth Rs 21,600 crore.
In written answer to a question from BJP admin Sushil Kumat ModiUnion Highways Minister Nitin Gadkari Said that NHAI has taken external borrowing of Rs 3,000 crore and in 2020-21 only, the highway authority has paid Rs 18,840 crore as interest.
On the mechanism being adopted to repay the loan, the Minister said, “NHAI creates valuable road assets which are economically viable. Since 2017, NHAI has constructed a total of 17,042 km of public funded roads with an expenditure of about Rs 4.08 lakh crore. Fully public funded road assets are being tolled. NHAI is also monetizing assets through TOT/INVIT mode to generate revenue for repayment of loans and further construction. Since 2017, NHAI has serviced its debt of Rs 74,337 crore. NHAI is conducting regular exercise to balance its assets and liabilities to ensure a sustainable debt level.
The minister also said that 140 arbitration cases are pending before various arbitral tribunals, in which contractors have claims of Rs 91,875 crore and NHAI Rs 44,600 crore. Another 240 cases are in courts with claims worth Rs 21,600 crore.
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