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NEWS INDEX Thursday, July 18, 2019

 Toll tax won’t be eliminated but FASTags mandatory in four months: Nitin Gadkari GOVERNMENT PRESS RELEASES
 Govt eyes common man's savings to fund highway projects
 SP ex-minister warns of blockade if NH-74 potholes not repaired
Ministry of Development of
 Mumbai Coastal Road project's clearance cancellation to impact L&T, HCC
North-East Region
 Minister seeks contract details of Port Connectivity Road Project
 Road and rail connectivity in
 3,490 Trees to be Axed Making Way for 8-Lane Delhi-Panipat Highway
North Eastern Region
 J&K's 'shelved' road projects to get GoI push
 NHAI to reopen Pune-Nashik highway lane after removing loose rocks
 Explained: What the government intends to do to improve road safety?
 Centre asks state govts to exempt permit, minimise road tax for EVs
 Expect robust earnings growth for cement sector in Q1, Shree Cement top pick: Edelweiss
 Dilip Buildcon gains 2% on EPC order in Karnataka, project completion certificate in
Jharkhand
 KNR Constructions receives order worth Rs 847 crore
 Sadbhav Infrastructure Project shines as toll collection rises 2.3% in Q1FY20
 Rs 200 Crore Electric Highway Pilot Project To Come Up On Delhi-Mumbai Expressway,
Says Gadkari
 Favourable response to the third TOT bundle critical for the success of TOT as a model
 Delhi: RFID rolled out but some speed bumps on day 1
 Government aims to recover over 50% of debt extended to IL&FS
 L&T Chief AM Naik to guide Mindtree
 NCLAT opens doors for Adani, others to bid for Jaypee Infratech
 L&T Construction-led JV bags significant order for desalination plant from GIDC

1.25 lakh km road to be built under Pradhan Mantri Gram Sadak Yojana, says Narendra
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THE FINANCIAL EXPRESS

Toll tax won’t be eliminated but FASTags mandatory in four months: Nitin Gadkari
The adoption of FASTag for all the vehicles will ensure faster travel time between toll gates and lesser emissions as
well as slightly better fuel efficiency
Our road ministry seems to make announcements every second day. More often than not, these have concrete (pun unintended) dates
attached to them. This time around, the announcement comes from Road, Transport and Highways minister, Nitin Gadkari. The
announcement is about the adoption of FASTags for all the four wheelers in India within the next four months. Gadkari said that vehicles
without the FASTags will not be allowed to cross a toll. He said this on the sidelines of a question on toll tax to be abolished entirely.
Gadkari mentioned that he is the creator of toll and while it cannot be abolished, based on conditions the tax levied may be lower or higher.
He further elaborated that the government doesn't have money to maintain the roads and hence toll tax cannot be cut out from the process.
School buses though could be exempt from toll in the near future.
FASTags are basically electronic toll collection which doesn't require manual intervention. The electronic scanner checks the vehicle's
RFID (a sticker on the front left windscreen) and automatically deducts the toll amount. The user is expected to refill the FASTag through
his bank or directly at the toll booth, a couple of days before the validity ends. Currently, most of the toll plazas have a single lane or at the
maximum two lanes for FASTags.
Gadkari further added that drivers without FASTag enter these designated lanes and increase the wait time. While details on the four month
FASTag adoption scheme aren't out yet, it could be a success given that most new cars come with a pre-fixed RFID sticker. Moreover,
Gadkari says that those without FASTags will not be allowed to pass. There is no clarity yet if they can pay cash or even the penalty and
pass through. This scheme though might benefit all given that the wait time at tolls will be less. This in turn means lower emissions, better
fuel efficiency and generally lesser wear and tear of the vehicle. Lower stress levels due to the lesser wait time as well as others trying to cut
lanes at tolls too is a bonus.
 Go to main page

DOMAIN.COM

Govt eyes common man's savings to fund highway projects

17 July 2019
The government is working on several innovative investment models to attract funds for the highway projects, including a
model for attracting investment from the savings of the common man, giving them assured returns, union minister for road
transport and highways Nitin Gadkari said on Tuesday. Gadkari said new financing models are being developed and there will
be no shortage of funds for highways projects even as the Lok Sabha passed the demands for grants under road transport and
highways for 2019-20 by a voice vote.
The minister has assured Parliament that his ministry, under the leadership of Prime Minister Narendra Modi, will continue
giving a thrust to building world class transport infrastructure in the country.
Gadkari said his minister has awarded road projects worth about Rs11 lakh crore during the past five years. He said over 57,000
km of national highways were awarded and over 40,000 km of highways were constructed in the last five years, which is an
exponential rise over the figures for the previous five years.
Further, he said, the budget allocation for his ministry has increased by about Rs5,000 crore. In addition, several innovative
investment models are being worked out to attract funds for the sector. This would include a model for attracting investment
from the savings of the common man, giving them assured returns. Gadkari assured that even though the cost for Bharatmala
has gone up from Rs5,35,000 crore to about Rs8,41000 crore due to increase in cost of land acquisition, there will be no
shortage of funds for the projects.
The minister reiterated the government’s resolve to provide special focus on road safety. He said, the ministry has identified
786 black spots which are prone to accidents and 300 such spots have been rectified till now. Gadkari further informed the
House that the Asian Development bank (ADB) has sanctioned Rs7,000 crore for adopting safety measures on highways.
In this regard, Gadkari called upon all members to lend support to the Motor Vehicles ( Amendment ) Bill 2019 in which
stringent laws have been proposed for ensuring safety on roads.
Gadkari further said that the electronic toll collection process will be put on fast track and mandatory for easy passage of traffic,
avoiding long queues in the toll plazas.
Gadkari said that Bharat stage-VI pollution norms will be introduced by April 2020 and electric and bio fuel run vehicles will
soon be on roads.
 Go to main page

NHBF Daily e-newsletter Thursday, July 18, 2019 3

THE TIMES OF INDIA

SP ex-minister warns of blockade if NH-74 potholes not repaired

Jul 18, 2019,
PILIBHIT: The Samajwadi Party unit of Pilibhit has threatened to indefinitely block the Bareilly to Haridwar NH-74 if the road surface is not
repaired as soon as monsoons are over. The condition of the highway, especially along Amaria tehsil, has deteriorated so much, it has
made life of people living along it hellish. Along the 2km stretch that passes through Amaria’s main market, asphalt has been replaced by
potholes that have transformed into a quagmire since the rains began.

Riaz Ahmad, a Cabinet minister in the erstwhile Samajwadi Party government representing Pilibhit, said, “I’ll stage an indefinite dharna
with a large number of party workers to completely block traffic on the NH. That’s the only way to draw attention to NHAI’s (National
Highway Authority of India) stubbornness on the issue,” adding he will wait till end-August for the monsoon season to get over before he
embarks on his protest.

NHAI had initiated reconstruction of a 74km stretch of the road, originally built some 7-8 years ago, in 2014, after it collapsed along the
stretch between Bareilly and Sitarganj in Uttarakhand. The reconstruction was scheduled for completion in two years, but has been
hanging fire ever since the original contractor was dismissed for slow and shoddy work some years ago.

Locals said heavy vehicles regularly get stuck in the mud. “The road surface has turned so slippery it poses a threat to bikers, cyclists and
even pedestrians,” said Amaria zilla panchayat member Aslam Javed. “Locals have repeatedly urged NHAI to get the work done, but there
has been no movement for years. The public representative is also apathetic about the situation,” alleged local resident Faisal Malik.

NHAI project director for Bareilly, N P Singh, affirmed the original contractor assigned the highway construction work between Bareilly
and Sitarganj had left after the department initiated action against him for sluggish work. “We’ve sent our reports to the Lucknow office,
along with a fresh estimate of construction cost. As soon as we get approval for it, we’ll have the work executed,” he said.
 Go to main page

Mumbai Coastal Road project's clearance cancellation to impact L&T, HCC

Amritha Pillay | Mumbai July 17, 2019
The Bombay High Court decision on Tuesday to cancel coastal regulation zone (CRZ) clearance to the Mumbai Coastal Road project will
impact the order book for companies like Larsen & Toubro (L&T) and HCC. L&T was awarded two packages of the coastal road project
worth Rs 7,489 crore in October last year. HCC, in a joint venture with Hyundai Development Corporation, was awarded another contract
for the project worth Rs 2,126 crore. HCC’s share in the joint venture is 55 per cent with an order inflow of Rs 1,169 crore.

"We declare that MCGM cannot proceed with the works without obtaining an environmental clearance under Environment Impact
Assessment (EIA) Notification," Justice N M Jamdar stated in the order, ANI reported on Tuesday. The order came on a bunch of petitions
filed by a few NGOs and residents.

As of March 2019, HCC’s order book stood at Rs 18,554 crore and L&T’s total order book was at Rs 2.93 trillion. Execution work on the
project has so far been limited to preliminary works. In the event of a delay in clearances or a lack of them, there will be an impact on the
order book for these companies.

The coastal road project is one of the many infrastructure projects underway in Mumbai to decongest roads and other transport systems.
In addition to the coastal road, a city-wide metro network, second phase of the sea-link project, a trans-harbour link connecting the
mainland to its satellite areas are amongst other projects underway.

The coastal road project was planned to connect the southern part of the city to its western suburbs, running parallel to its coastline.
Including the coastal road project, construction companies are executing projects worth Rs 63,934 crore in Mumbai alone.
 Go to main page

NHBF Daily e-newsletter Thursday, July 18, 2019 5

THE HINDU

Minister seeks contract details of Port Connectivity Road Project

MANGALURU, JULY 18, 2019
Dakshina Kannada in-charge Minister U.T. Khader on Wednesday said that he has asked the district administration and the Public Works
Department to obtain the contractual agreement between the State government and the National Highways Authority of India (NHAI) for
the of four-lane New Mangalore Port Connectivity Road Project between BC Road and Surathkal.
This move comes after NHAI repeatedly demanded that the State government allow toll collection from local vehicles at the NITK-
Surathkal Toll Plaza. Mr. Khader told reporters here that he asked the Chief Secretary to withhold toll collection from July 16 after learning
about NHAI’s move as the project has several drawbacks.
Only after studying the agreement and after being satisfied that NHAI has fulfilled all the conditions, then a decision on toll collection from
local vehicles may be taken, he said. The Minister said that the officials cannot indefinitely keep deferring the move to collect toll and it is
for the NHAI and the Centre to resolve the issue.
Any agency executing NHAI project is duty bound to offer concessions to local residents, Mr. Khader said and added that he has instructed
Deputy Commissioner S. Sasikanth Senthil to ensure toll is not collected from local vehicles till he goes through the agreement.
Merger of plazas
Mr. Khader said that he has also asked Secretary, PWD, to coordinate with NHAI towards getting the Surathkal Toll Plaza merged with the
one at Hejmady on NH 66. He said that as per his understanding, NHAI owes certain sum to IRCON, another Government of India
company, that had executed the four-lane project. The toll was being collected to recover the expenditure, he said and added if the
Centre pays the company its dues, the issue could be resolved.
The Minister said that he has raised the issue with Union Minister D.V. Sadananda Gowda, who is the coordinating Minister for Karnataka,
as well as MP Nalin Kumar Kateel. Both have assured of resolving the issue and obtain an appointment with Union Road Transport
Minister Nitin Gadkari to facilitate a delegation of legislators from the region to meet him.
 Go to main page
THE QUINT

3,490 Trees to be Axed Making Way for 8-Lane Delhi-Panipat Highway

At least 3,490 trees will be razed down to make way for the 8-lane Delhi-Panipat Highway, revealed a RTI response by the National
Highways Authority of India (NHAI). The authority, in response to environmental activist Shubham Khatri's query also revealed that the 8-
lane NH1 project does not require environmental clearance.
The project involves 8-laning of NH-1, for about 70.5 km, from Mukarba Chowk to Panipat in Haryana, to de-congest Delhi.
Rs 55.62 crore have been deposited by the NHAI to the Forest Departments in both Delhi and Haryana, and Rs 17 lakh has been received by
the authority from the contractor in Delhi section.
Speaking to The Quint, Khatri said that depositing money to the Forest Department does not make the cut.
“It is not mandatory for the department to invest the money received in that particular area only. The money, if it is invested in planting
saplings, could also be invested in planting them in other areas and not particularly the NH-1.”
Shubham Khatri, Environmental Activist
He also added that the ministry has not framed any specific policy regarding the planting of saplings as substitutes for trees being cut.
Battle to Save Delhi's Trees
In a major controversy, the National Building Construction Corporation India in June 2018, asked for permission to chop over 14,000 trees
in the national capital for various development projects.
However, the proposal led to an ongoing court battle and is currently stalled due to weeks-long protests by the Delhi citizens.
Earlier in January, the NBCC again wrote to Delhi's Forest Department, seeking permission to cut down 1,955 trees in Netaji and Sarojini
Nagar. This was reportedly turned down.
India hosts 15 out of 20 most polluted cities in the world with Gurugram and Ghaziabad being the most polluted cities in the world followed
by Faridabad, Bhiwadi and Noida being in top six with Delhi on the 11th spot.
On an average day, Delhi’s AQI is well above 300, which is above the safety limit of 100.
 Go to main page

NHBF Daily e-newsletter Thursday, July 18, 2019 7

GREATER KASHMIR

J&K's 'shelved' road projects to get GoI push

There is a reason to cheer for J&K government which has been struggling to complete several road projects for want of
funding. The landlocked state will get a slice of share from Rs 22,500 crore earmarked by Government of India for
expansion of highways in hilly states.
This was disclosed by the Union Road Transport and Highways Ministry in the Parliament which is currently in the session.
The funding will be utilised for construction of 538 kilometers of road length and tunnels, along highways, in the Himalayan
A part of the funding will also go into completion of road projects which have already been outlined in Prime Minister‟s
Development Package (PMDP) for J&K. The mega-package was announced by Prime Minister NarendraModi during his
visit to the summer capital Srinagar in 2015.
While in the last three years 290 kms of road length has been completed, along the highways, in J&K, costing Rs 120 core,
the Union Ministry has acknowledged that different projects in the State were facing delays owing to “host of reasons”. A
number of key projects like four-laning of Srinagar-Jammu highway, construction of Zojila and Mughal road tunnels are
already facing years of delay.
Similarly, construction of tunnels at several critical points on Srinagar-Jammu highway has also been delayed. This project,
which also includes widening of the highway, has already missed several deadlines owing to “lackadaisical” approach of
National Highway Authority of India (NHAI). The road widening project has been divided into six sub -projects – Srinagar-
Qazigund stretch (68 kms), Qazigund-Banihal (16 kms), Banihal-Ramban (36 kms), Ramban-Udhampur (43 kms),
Chenani–Nashri (12 kms), Jammu-Udhampur (65 kms). While the work on Jammu side was complete, the road stretches,
which are prone to landslides, were still awaiting up gradation to make it safe for journey.
 Go to main page

THE INDIAN EXPRESS

Explained: What the government intends to do to improve road safety?

July 17, 2019
motor vehicles bill, nitin gadkari, lok sabha, motor vehicles act, road safety, road safety in india, road accidents, central government, road
accident victims, traffic, express explained, indian express news
The Motor Vehicles (Amendment) Bill, 2019 was introduced in Lok Sabha on July 15. (Representational Image)
Minister for Road Transport and Highways Nitin Gadkari has been in the news as he pushes the Motor Vehicles (Amendment) Bill, 2019 in
Parliament. The Bill was introduced in Lok Sabha on July 15. The amendments proposed by the government to the existing Motor Vehicles
Act of 1988 essentially focus on improving road safety.
What are the key elements of the proposed amendment?
First and foremost, the Bill proposes to increase the minimum compensation for hit and run cases. In particular, in case of death, such
compensation would vary from Rs 25,000 to Rs 2 Lakh. In the case of grievous injury, it would vary from Rs 12,500 to Rs 50,000. The Bill
also enables the Central government to develop a scheme for cashless treatment of road accident victims during the “golden hour”; the
golden hour is the first 60 minutes following the injury during which doctors have the best chance of saving a life. The government’s
insurance scheme is likely to be funded through a Motor Vehicle Accident Fund that the central government is expected to constitute to
provide compulsory insurance cover to all road users in India. This fund will be available for the treatment of the injured.
The Bill also defines a good samaritan as a person who renders emergency medical or non-medical assistance to a victim at the scene of
an accident. However, to be seen as one, such assistance must have been given in good faith, voluntarily, and without the expectation of
any reward. If these conditions are met, such a person will not be liable for any civil or criminal action for any injury to or death of an
accident victim, caused due to their negligence in assisting the victim.
The Bill also proposes a National Road Safety Board which will advise the central and state governments on all aspects of road safety and
traffic management.
The Bill also enables the central government to order a recall of motor vehicles if it is found that they are defective and can cause harm to
other road users or the environment. In case of such a recall, the manufacturers would either have to replace the faulty vehicle or pay full
compensation to the customer.
Beyond road safety, the Bill also increases penalties for several offences such as driving under the influence of alcohol and drugs

NHBF Daily e-newsletter Thursday, July 18, 2019 8

The Bill also attempts to plug a policy gap that has been introduced by the emergence of shared economy concepts and technology. As
such, it defines taxi aggregators as digital intermediaries or market places which can be used by passengers to connect with a driver for
transportation purposes. These aggregators will be issued licenses by state, but, they must also comply with the Information Technology
Act, 2000.
The Bill also flags the importance of having a National Transportation Policy.
 Go to main page

THE ECONOMIC TIMES

Centre asks state govts to exempt permit, minimise road tax for EVs
The ministry also suggested states to either minimise the road tax for electric vehicles.New Delhi: In a bid to spur the use
of electric vehicles (EVs) in the country, the Central government on Wednesday advised the state governments to exempt such
vehicles from permit requirements.

A letter signed by joint secretary of Ministry of Road Transport and Highways (MoRTH) Abhay Damlewas sent to principal
secretaries transport and transport commissioner of all states.

The letter dated July 17 advised them to operationalise the ministry's notification by registering electric vehicle for passenger
mobility without imposing any permit requirement.

"On 18th October, 2018 the ministry has exempted the electric vehicles from the requirements of passenger transport permit.
However, most of the states have not implemented the notification and are still insisting for permits of EVs. This acts as a
barrier against the proliferation of electric vehicles in passenger transport segment," the notification said.

Additionally, the ministry also suggested states to either minimise the road tax for electric vehicles or exempt from paying road
tax for vehicle registration.

"States, which have not reduced or waived the road tax on EVs, may please consider waiving the road tax to the maximum
possible extent on the electric vehicles so as to reduce the initial cost of the vehicle to the users," read the notification which
had several other announcements for promotion of EVs.

Under FAME-II scheme, the Department of Heavy Industries provided subsidies on the EVs being used as transport vehicles
several states have also waived the road tax on EVs, thereby reducing the cost of acquisition of these eco-friendly vehicles.

Green registration plate for zero emission vehicles for distinct identity, exemption of EVs from the permit requirement for
playing as transport vehicle, licence to drive e-scooters to those in the age group of 16-18 age are some of the initiatives taken
by MoRTH in the past to promote the usage of electric vehicles in the country.

However, the notification underlined that the benefit of having a green number plate on electric vehicles would be accured to
users only if states and municipalities provide incentives to such vehicles in respect of waiver of toll charges, parking fees as
well as priority parking slots and permit the exclusive access to electric vehicles to the congested zones in the cities.

And therefore, urged the state governments to consider these measures.

Other areas where developments of zero emission mobility happening in a big way are shared mobility segments and public
transport.

"It is important to increase the share of zero emission electric vehicles in shared mobility as well as public transport. Since the
public transport and shared mobility vehicles typically cover higher distances, their conversion into electric would bring
considerable impact on the harmful emissions in the cities," the notification added.

Additionally, the ministry also requested states to create preferential policies for adoption of electric vehicles through other
incentives such as land allotment for charging infrastructure, mandating charging infrastructure in malls, housing societies and
office complexes in addition to public parking spaces.

It also mentioned that state governments have to communicate the actions undertaken for promoting the induction of EVs to
MoRTH by 31st August, 2019.
 Go to main page

NHBF Daily e-newsletter Thursday, July 18, 2019 9

CNBC TV

Expect robust earnings growth for cement sector in Q1, Shree Cement top pick: Edelweiss
July 17, 2019 12:58 PM IST
Edelweiss is maintaining Shree Cement as the top pick in the largecap space as it expects the company to report an EBITDA of over Rs
1,500 per tonne, highest in a decade.
Sharing his views on Q1FY20 earnings season, Navin Sahadeo of Edelweiss said, “In cement, we are seeing the volumes at the industry
level being flat to marginal negative but the kind of support that we are getting from prices as well as the cost is leading us or driving us to
robust earnings growth. So it should be a favourite sector."
“From the top pick perspective, in the largecap space, we are maintaining Shree Cement as a top idea given by the fact that in this
quarter, they will report an EBITDA of over Rs 1,500 per tonne which will be the highest in this decade. In the midcap space, we continue
to like JK Cement. It is all set to probably deliver the highest ever EBITDA per tonne in the grey cement space,” he said.
“We have India Cement as a company under coverage from the south region where we have a hold recommendation. Earnings could be
healthy but from a valuation perspective and other concerns, we are not recommending it as our top pick in this space,” Sahadeo added.
 Go to main page

MONEYCONTROL

Dilip Buildcon gains 2% on EPC order in Karnataka, project completion certificate in

Jharkhand
Dilip Buildcon shares gained 2 percent intraday on July 17 after bagging EPC project for construction of extra-dosed Bridge in
Karnataka. The construction company said its joint venture Shaanxi Road & Bridge Group Company has been declared top bidder by
the Ministry of Road Transport & Highways, for a new EPC project in Karnataka.
The order is for construction of extra-dosed Bridge across Sharavathi Backwaters and approaches between Ambargodu and
Kalasavalli of NH-369E.
In addition, Dilip Buildcon said the project - four laning of Mahulia-Baharagora-JH/WB boarder section of NH-33 & NH-06 in
Jharkhand under NHDP Phase -III on EPC mode has been provisionally completed. The Provisional Completion Certificate has been
issued by the authority on July 16 and has declared the project fit for entry into operation as on July 5, it added. The stock was
quoting at Rs 421.20, up Rs 3.95, or 0.95 percent on the BSE at 1120 hours IST.
 Go to main page

UDAIPUR KIRAN

KNR Constructions receives order worth Rs 847 crore

KNR Constructions has secured a work order for Rs 847.34 crore from Navayuga Engineering Company, Hyderabad on back to back basis
for the balance work of Palamuru Rangareddy Lift Irrigation Scheme – Package 10 for the Formation of Venkatadri Reservoir bund from
Km 6.900 to Km 11.550 at Vattem (V), Bijinepally (M), Nagarkurnool district in the state of Telangana.
KNR Construction is a multi-domain infrastructure project development company providing (EPC) engineering, procurement and
construction services across various fast growing sectors namely roads & highways, irrigation and urban water infrastructure
management.
 Go to main page

UDAIPUR KIRAN

Sadbhav Infrastructure Project shines as toll collection rises 2.3% in Q1FY20

Sadbhav Infrastructure Project is currently trading at Rs. 60.00, up by 3.80 points or 6.76% from its previous closing of Rs.
56.20 on the BSE. The scrip opened at Rs. 56.00 and has touched a high and low of Rs. 62.35 and Rs. 55.75 respectively. So
far 754 shares were traded on the counter. The BSE group „B‟ stock of face value Rs. 10 has touched a 52 week high of Rs.
132.80 on 30-Jul-2018 and a 52 week low of Rs. 48.10 on 16-Jul-2019.

NHBF Daily e-newsletter Thursday, July 18, 2019 10

Last one week high and low of the scrip stood at Rs. 62.35 and Rs. 48.10 respectively. The current market cap of the company
is Rs. 2174.99 crore. The promoters holding in the company stood at 69.63%, while Institutions and Non-Institutions held
17.07% and 13.30% respectively.
Sadbhav Infrastructure Project‟s collection of toll revenue from its 10 operational Special Purpose Vehicles (SPVs) has
increased by around 2.3% to Rs 2,812.6 million in Q1FY20 from Rs 2,749.9 million in Q1FY19. The company‟s toll revenue
from its Ahmedabad Ring Road Infrastructure (ARRIL) in Q1FY20 has decreased by around 2.7% to Rs 232.3 million from Rs
238.8 million in Q1FY19.
The Aurangabad Jalna Tollway (AJTL) toll revenue in Q1FY20 has rose by around 24.3% to Rs 126.7 million from Rs 101.9
million in Q1FY19, while Bijapur Hungund Tollway (BHTPL) toll revenue has decreased by around 2.7% to Rs 307.5 million
from Rs 315.9 million in Q1FY19.
Besides, Hyderabad Yadgari Tollway (HYTPL), Dhule Palasner Tollway (DPTL), Shreenathji-Udaipur Tollway (SUTPL) and
Bhilwara-Rajsamand Tollway (BRTPL) toll revenue have also increased during Q1FY20, while Rohtak Panipat Tollway
(RPTPL) toll revenue in Q1FY20 reduced by around 22.5%.
Sadbhav Infrastructure Project is one of the leading road BOT companies in India that specializes in the development,
operation and maintenance of highways, roads and related projects. The company, a subsidiary of Sadbhav Engineering
(SEL), was incorporated in 2007 as a developer and operator for highways, road and related projects on a BOT basis.
 Go to main page

SWARAJYA

Rs 200 Crore Electric Highway Pilot Project To Come Up On Delhi-Mumbai Expressway,

Says Gadkari
by Swarajya Staff - Jul 17 2019,
India will soon join a handful of countries who have conducted trial runs of electric highways, with Highways Minister Nitin
Gadkari informing the Lok Sabha that a 10-kilometre pilot project for the same will start on the Delhi-Mumbai expressway within
the next two-three years, reports The Times Of India.
"Trucks of 80 tonnes will be deployed and these will have electric cable to draw power from the overhead cable network...
There will be two tracks and trucks with containers can run at 100kmph. The trucks will run on electricity for 20km and the
battery will get charged to run on stretches where there is no overhead wire. Again, after some kilometres, these can tap the
overhead wire and simultaneously get charged again while running," Gadkari stated.
Till date, only three countries in the world have conducted electric highway trials, namely Sweden, Germany and the United
States. It is estimated that the pilot project on the Delhi-Mumbai expressway would cost close to Rs 200 crore.
Moreover, the government also plans on creating a Metrolite, which will be a barricaded light rail system, with trains being
charged by overhead electric supply.
 Go to main page

CONSTRUCTION WORLD

Favourable response to the third TOT bundle critical for the success of TOT as a model
July 2019
Timely monetisation of mature road assets through the toll-operate-transfer (TOT) route will be a critical determining factor in plugging
the shortfall in budgetary allocations and fetch requisite funding to support ambitious execution targets set for the Bharatmala
programme. Otherwise, in the event of shortfall, funds will have to be met through additional borrowings, thereby increasing the debt
burden for NHAI. Hence, success of the TOT as a model will be significant. The third bundle, which was announced recently, assumes
significance given that this is coming after an unsuccessful second bundle where the investors quoted a discount to the NHAI’s base price
following which it was cancelled.
Elaborating on the same, Shubham Jain, Senior Vice President & Group Head, Corporate Ratings, ICRA, said, “The fact that the first TOT
bundle was awarded for a much higher price than the NHAI’s estimate by 55 per cent has raised the expectations for second bundle. This
is evident from the IECV (base price) to the annual toll collection (FY2018) ratio, which was 12.2 times for first bundle and 17.9 times for
second bundle. The IECV multiple for second bundle is possibly aligned with the multiple for the winning bid for first bundle of 18.9. For
the recently announced third bundle, this ratio (ask from NHAI) has witnessed some moderation to around 14.8 times keeping in mind the

NHBF Daily e-newsletter Thursday, July 18, 2019 11

subdued response for second bundle (H1 for second bundle was at 15.4 times the IECV). This makes the bundle relatively more attractive
than the second one and has the potential to garner favourable investor response.”
The third bundle has more similarities with the second bundle in terms of toll collection track record and the lack of high density golden
quadrilateral stretches. The overall toll collections are however superior for the third bundle driven by the healthy collections in Madurai-
Kanyakumari stretch which alone accounts for around 45 per cent of total toll collections of the bundle.
Parameter First bundle Second bundle Third bundle
Number of
stretches 9 8 9
Golden
quadrilateral
stretches 6 0 0
6 in Andhra 3 in West Bengal, 2 each 4 in Tamil Nadu, 3 in Uttar
Pradesh; 3 in in Gujarat and Rajasthan Pradesh and one each in
Location Gujarat and 1 in Bihar Bihar and Jharkhand
Median toll
collection track
record (years) 10.89 6.65 7
Toll collections in
FY2018 (Rs crore) 513.38 299.12# 337.61
Total length 681 587 566
IECV* 6258 5362 4995
IECV/Toll collection
in FY2018 12.2 17.9 14.8
H1 Bid / Toll
collection in FY2018 18.9 15.4 -
Source: ICRA research, NHAI; #Some of them were OMT contracts for which full revenues were
not reported in FY2018; *IECV: Initial Estimated Concession Value of Authority; ^Macquarie
secured first bundle for Rs 9,681.5 crore (55 per cent higher than IECV, H1-H2 of 29 per cent)
The first bundle under the TOT, which was awarded to Macquarie, had a total of nine projects involving 681 km. As against the NHAI’s
expectation – initial estimated concession value (IECV) of Rs 6,258 crore, the winning bid of Macquarie stood at Rs 9,682 crore.
Considering that the H1 was higher than the NHAI’s estimate by 55 per cent; the first TOT bid was a resounding success for the NHAI. The
bids for the second bundle of TOT were invited by the NHAI in August 2018. Unlike the first bundle, the toll collection potential has been
lower for the second bundle. Therefore, it failed to elicit favourable response in line with the first bundle. As against IECV of Rs 5,362
crore, the H1 bid stood at Rs 4,612 crore (from Cube Highways) – 14 per cent lower than IECV. The third bundle has a good mix of
stretches in terms of traffic density and states (in terms of economic activity). The median toll collection track record stood at seven years;
while there are no high density golden quadrilateral stretches, the traffic density and growth along the Madurai-Kanyakumari stretch has
been robust.
The overall funding requirement for the new highway development programme is estimated at Rs 692,324 crore, which is proposed to be
funded through budgetary allocations[1] of Rs 343,045 crore over FY2019-FY2022, market borrowings of Rs 209,279 crore, Rs. 34,000
crore through proceeds of monetisation through the toll-operate-transfer (TOT)[2] route and the remaining Rs 106,000 crore through
private sector participation. Therefore, success of TOT model is significant.
Jain added, “A majority of the Bharatmala programme is expected to be undertaken through the National Highways Authority of India
(NHAI). While the NHAI borrowing programme is on track, the budgetary allocation in the last two budgets was lower than required (Rs
72,010 crore for FY2020 around 21 per cent[3] lower than what is required), thereby necessitating dependence on other funding
avenues.”
It may be recalled that the Cabinet had approved the Bharatmala Pariyojana Phase-I along with other programmes in October 2017
involving around 83,000 km (including Bharatmala Pariyojana Phase-I of 24,800 km) of national highway development by FY2022.
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NHBF Daily e-newsletter Thursday, July 18, 2019 12

THE INDIAN EXPRESS

Delhi: RFID rolled out but some speed bumps on day 1

Written by Abhinav Rajput | New Delhi | Published: July 17, 2019
On Monday, Lieutenant Governor Anil Baijal inaugurated the radio-frequency identification (RFID) technology at 13 toll booths in the
capital, which will deduct toll automatically from commercial vehicles. A visit to six places by The Indian Express Tuesday, however,
suggested that the system is yet to become fully operational.
At several places, toll was being collected manually in RFID lanes; private vehicles were seen entering the RFID lane meant for commercial
vehicles; and vehicles were seen trying to pass without paying the toll, leading to jams. At some places, system glitches led to first-day
hiccups.
The South Corporation has said the RFID system will be in place at Kundli, Rajokri, Tikri, Aya Nagar, Kalindi Kunj, Kapashera, Shahdara
(main), Shahdara (flyover), Ghazipur (main), Ghazipur (old), DND Flyway, Badarpur-Faridabad (main) and Badarpur-Faridabad (flyover) toll
plazas. At eight of these locations, though, the system has been running on a trial basis for the last six months, said officials.
At Ghazipur (main) toll plaza, civil and electrical work was underway, with officials saying it will take a day or two for the system to be up
and running as they are yet to install cameras, barricades, computers and other equipment. “We are hoping to finish the work by
tomorrow. There are some finishing touches left,” he said.
At Ghazipur (old) toll plaza, while barricades and cameras had been installed, the RFID lane earmarked for commercial vehicles had
private vehicles and two-wheelers entering them.
Additional Commissioner, South MCD, Randhir Sahay attributed the chaos to commercial car owners, most of whom, according to him,
had not installed RFID tags on their windshield.
“Once car owners get RFID tags installed, the problem will be fixed,” Sahay said, adding that there is also a lack of discipline among
commuters with private vehicles entering lanes meant for commercial vehicles.
Officials at the site echoed Sahay’s version, saying that most people either did not have RFID tags installed, or had not got it recharged.
The corporation claims to have sold over 40,000 RFID tags till now. Officials at Kalindi Kunj and Badarpur toll plazas in South East Delhi
said it may take over a week to get the system operational. “The systems at Kalindi Kunj and Badarpur are not working yet, and we are
working to fix the problem. In 8-10 days, the RFID sensors will start working,” said Binayak Dhal, assistant project manager of MEP
Infrastructure Developers Ltd. The infrastructure company, which began operations Saturday, is developing Delhi’s toll plazas under an
agreement with SDMC.
“Sensors are working but some of them are not reading the tag properly. For now, we are letting vehicles pass. The sensors will start
running properly in a couple of days. We are working on the issue,” said Sudhir Deshpande, director general manager, MEP Infra.
“Meanwhile, we are advertising the technology as most people don’t know about it yet,” he said.
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CNBC

Government aims to recover over 50% of debt extended to IL&FS

Updated : July 17, 2019
The Narendra Modi government expects to recover over 50 percent of the total debt from the sale of entities to repay lenders of the Infrastructure
Leasing & Financial Services (IL&FS) Group. According to a senior government official, “The government is confident of substantial recovery as the
bidding process is going on track.” The beleaguered firm has an estimated debt of over Rs 94,000 crore.
Of Rs 94 000 crore, the government has made efforts which have resulted in turning Rs 18,000 crore in the green category, the official added. On
being asked, how will the government go-ahead on the recovery process, the official added, “The asset sale is on track. The bidding process will
end on July 31 and the government will decide the future course of action after assessing the response of the bidding process."
The bidding process for IL&FS arms involving Rs 30,000 crore of debt will end on July 31. In case, the government does not get an encouraging
response on certain specialised entities of IL&FS, including the education arms or the waste to energy arms, in that case, the government would
opt for ‘Swiss Challenge Method’, the official said.
As part of the resolution plan, the group companies, based on their financial position, have been classified into three categories – green, amber and
red. The board of IL&FS Group is running the company to ensure settlement after it was superseded by the government-appointed new board in
October.
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NHBF Daily e-newsletter Thursday, July 18, 2019 13

L&T Chief AM Naik to guide Mindtree
JUL 18, 2019,: Bengaluru: Mid-tier IT services firm Mindtree has appointed L&T chief AM Naik as non-executive chairman, even as it
offered no clarity on key replacements, including the position of chief executive, once founders leave the company. Separately, the
software services provider posted muted revenue growth in the first quarter of the current financial year amid the ongoing takeover by
the engineering conglomerate. The company also calibrated its revenue guidance for the full year. Mindtree also gave its employees a
one-time special reward, which cut into the company’s margins.

“The payout on the occasion of Mindtree’s 20th anniversary is an opportunity to recognise every Mindtree Mind’s commitment and
contribution to the growth journey. The promoter payout forms a negligible 0.08% of the total pool,” Mindtree told ET.

The company told analysts in a post-earnings conference call that the special reward, which was about 260 basis points of revenue for the
quarter, would be paid on the basis of tenure. Mindtree’s revenue grew 1.1% sequentially to $264.2 million in constant currency terms,
against 8.2% sequentially last year for the same period. Profits dropped 52.7% sequentially to $13.4 million.

It has forecast above-industry average growth for FY20, but expects only marginal improvement in profit during the financial year. “This
quarter saw us achieve all-time high contract closures which sets the pace for the rest of the year. While the external factors pose some
challenges, nonetheless our focused strategy and strong client relationships make us confident of delivering above industry growth rates
in FY20 as well,” outgoing Mindtree CEO Rostow Ravanan said.

The company did not hold a customary call with the media. Mindtree did not respond to a query on when it had decided to make the
special reward payout. In response to queries on why the analyst call was not webcast for all investors, Mindtree said it had faced
technical difficulties at the time of the call.
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NCLAT opens doors for Adani, others to bid for Jaypee Infratech
KARUNJIT SINGH, JUL 17, 2019,
NEW DELHI: An appellate tribunal has asked counsel for lenders of Jaypee Infratech to provide terms and conditions for new resolution
plans, opening the doors for new applicants including Adani Infrastructure for acquiring the debt-ridden real estate company. The
committee of creditors of Jaypee Infratech had rejected a resolution plan by state-owned construction firm NBCC with lenders
unanimously voting against the plan. Homebuyers form around 60% of CoC while 13 lenders constitute the remaining 40%. Jaypee
Infratech has total outstanding debt of around Rs 9,800 crore and has failed to deliver flats to over 23,000 homebuyers.

A two-member bench of the National Company Law Appellate Tribunal led by Justice SJ Mukhopadhaya on Wednesday directed counsel
for lenders to provide terms and conditions that any new resolution plan must follow, indicating that the option to bid on Jaypee Infratech
may once again be open to any interested parties including Adani Infrastructure that had approached CoC with an offer for the company.
The bench, however, said it would require any resolution plan to meet certain conditions, including providing flats to all homebuyers
according to the original terms of the builder-buyer agreements.

“Specification and contract terms cannot be changed,” it said. “Same allottee shall be allotted flat or premises in term of agreement.
Where allottee is not present then it will be open to CoC to decide how that asset is to be adjusted.” The bench also said any applicant
would have to meet the condition that any land attached to buildings or common areas meant for the use of homebuyers would remain
with them.

The bench also asked counsel for Adani Infrastructure to improve and refile its bid. Adani group had submitted a nonbinding proposal to
lenders of Jaypee Infratech, offering to infuse Rs 1,700 crore in fresh equity and begin delivery of flats to homebuyers within nine months,
according to submissions by counsel for the lenders. The group has also offered to pay Rs 1,000 crore to settle dues of workmen and
financial creditors.
Lenders were of the view that this plan was superior to the plan submitted by NBCC, which had proposed to infuse Rs 200 crore as equity
to finish incomplete projects by 2023 and transfer 950 acres of land worth Rs 5,000 crore to lenders.
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NHBF Daily e-newsletter Thursday, July 18, 2019 14

 MONEYCONTROL

L&T Construction-led JV bags significant order for desalination plant from GIDC
Infrastructure company Larsen & Toubro (L&T) on July 17 said its arm L&T Construction-led joint venture has bagged contract for
desalination plant from Gujarat Industrial Development Corporation (GIDC).
"The water and effluent treatment business of L&T Construction and Tecton Engineering and Construction LLC, UAE JV have
secured a prestigious contract for a 100 MLD desalination plant from Gujarat Industrial Development Corporation, Gujarat, India,"
L&T said in a regulatory filing.
The company did not provide value of the contracts but said the orders fall under "significant" category which ranges between Rs
1,000 crore and Rs 2,500 crore as per its classification of contracts. L&T Construction will be the lead in this project, the company
added.
As part of the contract, the JV will operate and maintain the plant for 10 years, post completion. Shares of L&T were trading 0.26
percent higher Rs 1,465.25 apiece on BSE.
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MONEYCONTROL

1.25 lakh km road to be built under Pradhan Mantri Gram Sadak Yojana, says Narendra
Singh Tomar
Union Minister Narendra Singh Tomar on July 17 said 1,25,000 kilometres of road will be built under the third phase of the Pradhan Mantri
Gramin Sadak Yojana at an estimated cost of Rs 80,000 crore. The construction of these roads would be completed by 2024-25, Tomar,
who holds the portfolios of agriculture and rural development, told the Lok Sabha. Replying to a discussion on demand for grants for the
ministries of agriculture and rural development for 2019-20, the minister said the government is continuously increasing allocation under
MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) scheme.

"We have improved MNREGA scheme to make it more people friendly... Now, under the scheme, 99 percent of labourers are directly
getting wages in their bank accounts. There is no middle man and broker," he said.
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THE TIMES OF INDIA

NHAI to reopen Pune-Nashik highway lane after removing loose rocks

Ranjan Dasgupta | Jul 18, 2019,
NASHIK: The National Highways Authority of India (NHAI) has detected the presence of loose rocks at the landslide zone in
Chandanapuri ghat, in the Sangamner area, of the busy Pune-Nashik highway. The agency said unless the loose rocks are removed, the
Pune-Nashik lane of the highway near the ghat would not be opened for traffic.
“While examining the landslide zone, we have found some loose boulders and rocks. Some of them are at a height of over 200 feet from the
road. It would be dangerous to allow vehicles to ply on the lane without removing the loose rocks. We are taking precautions to ensure that
there is no chance of the rocks falling,” said NHAI’s Nashik division officials. A team is working on removing the loose rocks, the officials
added. “It is a time consuming exercise as many of the rocks are big in size,” they said and added that at this juncture, it would not be
possible to set a deadline for re-opening the lane. Even the iron safety mesh in the damaged section will have to be replaced. “We will
complete the task as soon as possible,” the officials said.
The Pune-Nashik lane of the highway has been closed since Friday night, following a massive landslide at 11pm. The boulders and the
debris came crashing down with the iron mesh, blocking the lane. The highway police have been using the Nashik-Pune lane for the
movement of vehicles going both ways. Friday’s landslide was the third one in the area in the past week. The earlier landslides, although
minor in nature, had taken place on July 7 and 11. “Our initial finding is that the rain had loosened the soil, and debris started accumulating
inside the mesh, which eventually gave way,” the sources said.
The highway police said although only one lane is being used, there have been no traffic jams so far. “Our police personnel are regulating
vehicular movement in the ghat section round the clock. There have been no traffic jams yet,” said the state highway police officials.
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PRESS INFORMATION BUREAU

NHBF Daily e-newsletter Thursday, July 18, 2019 15

Ministry of Development of North-East Region
Road and rail connectivity in North Eastern Region

Posted On: 17 JUL 2019 1:43PM by PIB Delhi

The road and rail connectivity of main land to the States in the North Eastern Region is through the Siliguri Corridor.
In the last four years under the schemes of M/o DoNER, road projects worth Rs.821.56 crore were sanctioned and under schemes of
North Eastern Council (NEC) Rs.1293.65 crore was released for development of infrastructure like roads and bridges, ISBT, airports,
railway in North Eastern Region. Under the SARDP-NE including Arunachal Package of Roads and Highways, 1262 km of road length worth
Rs.17,065 crore has been completed in the last four years in the North East Region (NER). Under Bharatmala Pariyojana (BMP) roads
stretches aggregating to about 5301 km in NER have been approved for improvement. Out of this, 3246 km road length has been
approved for development of Economic Corridors in the North East. Under Pradhan Mantri Gram Sadak Yojana, road length of 20,708 km
has been constructed at a cost of Rs.9033.76 crore, thereby connecting 3123 habitations in North Eastern Region. In respect of Rail
Connectivity, during the last four years the entire North East Region has been converted to the Broad Gauge (BG) network. The State wise
details are given below:
State wise details of conversion from MG to BG rail line in the last three years
Name of State Rail Link
Arunachal Pradesh Balipara–Bhalukpong
Assam Rangiya-Murkongselek
Assam Lumding-Silchar
Tripura Kumaraghat-Agartala
Manipur Arunachal-Jiribam
Mizoram Kathakal–Bhairabi

In respect of Air Connectivity, modernization and development of Airports have been taken up. This includes construction of a new
integrated terminal building at Guwahati, Imphal and Agartala Airports; Extension of Runway at Dibrugarh Airport; Strengthening of
Runway, Taxiway at Dimapur Airport; and upgradation works at Tezu Airport. The Greenfield Airport at Pakyong has been completed and
is now operational. A new Greenfield Airport at Holongi (Itanagar) has also been taken up for improving connectivity in the North East
region. Moreover, Regional Connectivity Scheme (RCS-UDAN) has been launched to provide connectivity to unserved and underserved
Airports within the country and to promote regional connectivity by making the airfare affordable through Viability Gap Funding (VGF).
The North East has been kept as a priority area under RCS-UDAN.
The Ministry of Tourism has identified several segments like Eco-Tourism, Rural Tourism, Medical Tourism, Wellness Tourism, Adventure
Tourism, Cruise Tourism, Sustainable Tourism, Agri-Tourism, Promotion of Cuisines as having huge potential for the North East Region.
The Swadesh Darshan Scheme of Ministry of Tourism is aimed at developing theme based tourist circuits in the Country, including the
North East Region. Under this scheme, projects worth Rs.1315.06 crore have been sanctioned for the North East Region in the last four
years and Rs.783.40 crore has been released for the same. The Ministry of Tourism also organizes the ‘International Tourism Mart’ in the
North East States for promotion of the North East Region.
As per the information available, major projects taken up in the North-East Region inter alia include Promotion of MSMEs in North Eastern
Region and Sikkim, Comprehensive Telecom Development Project (CTDP) for the North-Eastern Region, Comprehensive Scheme for
strengthening of Transmission and Distribution Systems (CSST&DS), North Eastern Region Power System Improvement Project (NERPSIP),
National Sports University at Imphal, Agartala-Akhaura Rail-Link to connect the existing Agartala station in Tripura to Akhaura Station of
Bangladesh Railways, development of Brahmaputra and 19 new waterways including Barak.
In addition to above M/o Housing and Urban Affairs facilitates and assists 8 North Eastern States for schemes like Swachh Bharat Mission
– Urban (SBM–U), Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Smart Cities Mission (SCM), Pradhan Mantri Awas
Yojana (Urban) (PMAY-U) and North Eastern Region Urban Development Programme (NERDUP) and 10% Lumpsum Scheme to improve
the quality of life in cities and towns covered under these Missions/Schemes.
In addition to above, Ministry of Development of North Eastern Region has also taken up projects for filling gaps in infrastructure through
its schemes such as NLCPR-State, North East Road Sector Development Scheme (NERSDS), Schemes of North Eastern Council (NEC) and
North East Special Infrastructure Development Scheme (NESIDS). This information was provided by the Union Minister of State
(Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy
and Space, Dr Jitendra Singh in written reply to a question in Lok Sabha today.
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NHBF Daily e-newsletter Thursday, July 18, 2019 16