The National Highways Authority of India (NHAI) recently engaged with highway builders to address concerns regarding the potential impact of geopolitical events on project execution and costs. During a meeting, the National Highway Builders Federation (NHBF) conveyed anticipated increases in fuel and other essential input material prices, which are expected to elevate transportation expenses. Builders also highlighted potential disruptions to bitumen availability and requested a declaration of the prevailing situation as a force majeure event to mitigate revenue shortfalls and allow for extensions of concession periods.
In response, NHAI Chairman Santosh Kumar Yadav assured developers of sustained coordination with Indian Oil Corporation Limited (IOCL), which has reportedly confirmed sufficient stock of fuel and bitumen with no major supply disruptions foreseen. Chairman Yadav advised contractors to contact NHAI regional offices or field authorities immediately in the event of supply chain issues and affirmed NHAI's commitment to coordinating with local administrative bodies to ensure continuous material availability for ongoing projects.
Source: https://timesofindia.indiatimes.com/india/nhai-promises-uninterrupted-fuel-bitumen-supply-amid-rising-cost-concerns/articleshow/129170053.cms
