Atlanta’s arm terminates Mohania - Ara contact

28 Feb 2015

Atlanta’s subsidiary - MORA Toll Ways (Concessionaire) has invoked the provisions of the Concession Agreement and terminated the Mohania - Ara section contact with effect from February 20, 2015. The Concessionaries has requested the authority to pay the terminal payment amounting to Rs 610.52 crore within fifteen days from receipt of notice.

The Concessionaire has been earlier awarded the contract for four laning of Mohania - Ara Section of NH-30 (Km 0.000 to Km 116.760) in the state of Bihar on Design, Build, Finance, Operate, Transfer (DBFOT - Toll) basis vide Concession Agreement dated September 10, 2011.

During the last 9 months, the Concessionaire could not carry out the project in an efficient manner due to several defaults by the authority like - Non release of grant, Non approval of additional costs due to procurement of aggregates from longer leads and Grant 100% of vacant access etc. The Concessionaire therefore decided to terminate the contract.

Atlanta is a leading infrastructure company with proven track records of over three decades of experience in engineering, procurement, construction (EPC) and realty. It has presence in three of the country’s fastest growing segments -- infrastructure development, mining and realty.

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