NHAI Accepts First Insurance Surety Bond
Recently, State-owned National Highways Authority of India (NHAI) accepted first insurance surety bond for the monetization program of the upcoming bid of Toll Operate Transfer (TOT) Bundle 14 to boost liquidity and capacity of bidders.
- It is the first time this innovative instrument (Insurance Surety Bond) is being utilized as a Bank Guarantee (BG) in the road infrastructure sector for monetization of bids.
- NHAI has been working closely with Highway Operators Association of India (HOAI), SBI General Insurance and AON India Insurance to implement this initiative.
(In Bundle 14 are housed two of the most lucrative sections of national highways, Delhi-Meerut Expressway of ....
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