Despite the pace of highways projects undertaken by state-run National Highways Authority of India (NHAI) picking up in the last three years, it is likely to remain short by 33-37 per cent of its FY19 target of completing 6,000 km, says Icra.
With a strong unexecuted pipeline and concerted efforts on right of way, the NHAI is on a strong footing and is set to witness sustained growth in execution in FY2019, the highest ever over the last one decade (FY2010- FY2019), the agency said in a statement issued on Monday.
As on March 31, 2018, NHAI has around 15,000 km of portion, which included projects awarded over the last five years, under completion.
However, pending appointed date (AD) for the hybrid annuity model (HAM) projects should not be seen as a concern when financial closure has already been achieved, the report said.