Exiting operational road projects in India still a tough task for developers

Exiting operational road projects in India still a tough task for developers

ndia plans to construct 10,000km of new highways a year and give existing roads a much-needed overhaul at an investment of more than Rs1 trillion a year. Photo: Pradeep Gaur/Mint

Promoters desperate to reduce debt are unable to get rid of nearly 60 operational road projects as potential buyers look for cheap deals while lenders refuse to clear them. The result: Despite a recent easing of rules to help developers exit their projects, the situation on the ground has changed little and many promoters remain stuck.

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