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The Economic Times
The Economic Times
Business

Govt invokes catastrophic failure event clause against 2 highway developers

New Delhi, The Highways Ministry has invoked the newly introduced provision of the catastrophic failure clause against two highway developers for major structural failures on National Highways projects.

The provisions of the catastrophic event allow highway-owning agencies to bar highway developers for two years from bidding for new projects. Such highway builders also face negative ratings that will adversely impact their chances of getting future projects.

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