Media reports say that the National Highways Authority of India (NHAI) Board on August 22 has decided to cancel three highway projects of PNC Infra, C&C Construction and Era Infrastructure. Sources concerned said that the developers had not paid the performance guarantee amount after winning the projects and that is why the Board has decided to cancel the highway projects. These developers would lose their bid security, which is one per cent of total project cost.
Sources added that the NHAI Board took a decision relating to long-pending dispute, where Larsen & Toubro is expected to receive close to Rs 241 crore. This is based on the recommendation of a dispute resolution mechanism set up by the NHAI.