GMR seeks to revive mega highway plan.

Almost two years after quitting India's first mega highway project worth Rs. 7,200 crore, debt-laden GMR Infrastructure is looking to revive the Ahmedabad-Udaaipur-Kishangarh project provided the government reschedules the premium payment option that was quoted at Rs. 636 crore annually.

A person close to the development told Financial Chronicle, that GMR has proposed to the government to reschedule the premium payment. When contacted, company officials refused to comment.

A rescheduling plan under the Rangarajan panel approved by the previous government had ruled out deferment of premium payment as 4-6 lane projects get tolling right from day one or the appointed date and have a moratorium on payment, making it necessary for the concessionaire to pay the premium to NHAI.


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