Rs 350cr boost to Ggn-Jaipur stretch of NH-8
The NHAI board has approved the infusion of Rs 350 crore to complete the much-delayed Gurgaon Jaipur stretch of NH-8. The widening and maintenance work has come to a standstill as the highway developer has no funds to carry out expansion and even bankers have stopped releasing funds.
The widening work started in April 2009 and has missed several deadlines. Sources said banks had stopped releasing loans fearing they would not recover their debt already extended to the project.
The NHAI board, with representation from highways from highways and finance ministries, has approved the fund infusion considering that termination of the contract--now, 90% complete-would create a bigger problem.