Corporate News 23-Jul-19
Sadbhav Infrastructure Projects' SPV terminates Concession Agreement with NHAI
Sadbhav Infrastructure Projects announced that Vizag Port Road (a Wholly Owned Subsidiary Company or SPV) has executed Supplementary Agreement to Concession Agreement with National Highways Authority of India (NHAI) towards termination of Concession Agreement dated 3 May, 2018 due to non-availability of required 80% of right of way by NHAI within stipulated time period. With this, Concession Agreement dated 3 May, 2018 shall cease to be in existence and will be treated as terminated with mutual consent of the parties without any outstanding claims on each other.
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