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Saturday, January 28, 2023

NHAI awards 60 pc in H1 FY23, says CRISIL

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New Delhi: The National Highways Authority of India (NHAI) awarded only 777 km of road projects in the first half of the current fiscal, a three-fiscal low and a 60 per cent drop compared with last year, CRISIL Market Intelligence and Analysitics said on Thursday.

Slackened pace of execution and highly inflated prices of key input materials (owing to uncertainties arising out of global geopolitical tensions) have acted as major impediments to awarding momentum, CRISIL said.

However, NHAI has already floated tenders for 2,200 km so far this fiscal, as much as 36 per cent more than in the same period last fiscal, it said.

Considering the ramp-up that typically happens in the fourth quarter, awarding in the second half of the fiscal is expected to improve substantially, the rating agency added.

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