2 hrs ago
Highway Builders Seek Extension of West Asia Relief Measures
Highway builders are asking for special support to continue until December 31.
This support was created because market conditions became unusually difficult.
Builders say fuel, oil, transportation and delivery costs are still changing a lot.
They also say supply chains remain uncertain.
If the support ends on September 30, some projects could face money problems.
This could lead to disagreements between companies and project authorities.
It could also slow down highway construction.
The builders want the same rules to continue so important projects can be completed on time.
NHBF has requested extending West Asia-related relief measures for highway projects until December 31.
The measures have supported contractors and concessionaires and helped sustain national highway construction.
NHBF cited continuing volatility in crude oil prices, fuel, transport, logistics and supply chains.
It warned that ending the measures on September 30 could cause financial stress, disputes and delays.
The federation wants the extension to retain the existing scope, eligibility and applicability.
- Who
- The National Highway Builders Federation (NHBF), representing highway contractors and concessionaires.
- What
- A request to extend West Asia-related relief measures for national highway projects until December 31.
- Where
- National highway projects; the article does not specify a particular location.
- When
- The existing measures are due to end on September 30; NHBF is seeking continuation through December 31.
- Why
- NHBF says oil, fuel, transport, logistics and supply-chain volatility continues to create financial and operational pressure.
Key facts
- Requesting organization
- National Highway Builders Federation (NHBF)
- Requested extension
- Until December 31
- Current end date
- September 30
- Affected groups
- Highway contractors and concessionaires
- Market pressures
- Crude oil, fuel, transportation, logistics and supply-chain volatility
- Potential consequences
- Financial stress, contractual disputes, claims and project delays
- Requested conditions
- The existing scope, eligibility and applicability should remain unchanged
Sources
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