Business Daily from THE HINDU group of publications Sunday, Jan 21, 2007 ePaper |
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Logistics
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Roadways NHAI cancels Essar contracts Our Bureau
Essar, along with a Malaysian firm UEM, had bagged two national highways projects in Karnataka in 2002. The projects were to be completed in December 2004. However, even as late as on December 31, 2006, almost 30 per cent of the projects were not completed, said NHAI officials. Following such non-performance, the National Highways Authority of India (NHAI) issued letters recently cancelling the project contracts. The projects involved four-laning of 77-km-long Chitradurga-Harihar section and the 56-km-long Harihar-Haveri section in National Highways IV.
The projects, funded by Asian Development Bank, were valued at Rs 466 crore Rs 265 crore for Chitradurga-Harihar section and Rs 201 crore for Harihar-Haveri section.
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