Arbitration Claims Stump NHAI As It Stares At Rs 18,000 Crore Payout
NEW DELHI: Exorbitant arbitration claims by highway developers — which in one case may add up to 13 times of the project cost — has stumped National Highways Authority of India (NHAI), which could be staring at nearly Rs 17,000-18,000 crore payout on this account over the next couple of years.
Currently, around 180 arbitration cases are going on with claims of highway builders and concessionaires totalling nearly Rs 71,000 crore. On its part, NHAI has made counter claims of around Rs 37,000 crore. Sources said assuming that arbitral awards have been around 25% of the claim amounts, it’s roughly estimated that NHAI may need to provision for a large sum.