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Union minister Nitin Gadkari has said that the government has planned the Bharatmala project to improve 65,000 km of highways across the country. Greenfield Expressway: Union Road Transport and Highways minister Nitin Gadkari said that the government is developing 10,000 km of new expressway projects with an investment of Rs 4.5 lakh crore. Gadkari said that these roads are being constructed under the Bharatmala scheme. He said the National Highways Authority of india (NHAI) has raised funds of Rs 70,000 crore through various funds. This amount will be used for highway projects. India's road network has grown by 59 percent in the last nine years as part of the government's development efforts, making india the second-largest road network in the world. In the last nine years, india has set seven world records in this field. He said India's road network is the second largest in the world after the United States.
Addressing a program organized by the indian Institute of Management-Kozhikode (IIM Kozhikode) titled 'Management Development Project on Infrastructure Financing', Gadkari said: The government is planning the Bharatmala project to upgrade 65,000 km of highways across the country. 34,800 km as the first phase. We are building 10,000 km of new expressways at a cost of Rs 4.5 lakh crore. The minister said that the national highway network has increased from 91,000 km in 2014 to 1.45 lakh km. Gadkari said the government is giving impetus to the economy through the infrastructure pipeline and prime minister Kathi Shakti's National master Plan. These projects will ensure integrated and all-round development in the country. As these infrastructure projects will connect remote areas, cost and time will be saved.
The minister also said that it is important to put assets in the market to invest in infrastructure. NHAI has a 27 percent stake in the National Monetization Scheme (a scheme to offer assets in the market). They are actually pioneering several models to monetize national highways. These include TOT (Toll-Operate-Transfer), INVIT (Infrastructure Investment Trust), and project-based financing. In 2014, the waiting time at toll booths was 734 seconds, which will be reduced to 47 seconds by 2023. We hope to reduce it to 30 seconds soon, he said.
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Sowmiya Sriram

04/07/2023 10:20 AM