Rs 6.92 lakh crore road projects unveiled for mega infra booster
00:16, Oct 26, 2017
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He added that the government's marque Bharatmala scheme will create 100 million man-days of jobs during the construction phase and 22 million permanent jobs due to the increased economic activity triggered by it.
"For the highway construction programme, Rs 2.09 lakh will come from market borrowing, Rs 1.06 lakh crore is expected to come through private investment and Rs 2.19 lakh crore will come from the central road fund and through toll operate transfer model", Lavasa said. The 49 km corridor will provide a direct link to NH-10 (towards Rohtak) and NH-8 (towards Gurgaon) for vehicles entering the city from Karnal.
Terming Bharatmala as "connecting India like never before", the PMO said the Rs 5.35 lakh km project will include 9,000 km of economic corridors to unlock full economic potential, 6,000 km of inter-corridor and feeder routes, 5,000 km of national corridors efficiency improvement, 2,000 km of border road connectivity, 800 km of expressways and 10,000 km of balance NHDP projects.
The centre's proposal to invest Rs6,92,000 crore for developing about 83,000 km of roads in the country has given a big boost to shares of most infrastructure companies in the morning trade today with shares of companies in the road sector zooming up to 7 per cent. He also highlighted 185 choke points identified to decongest corridors. The Bharatmala project also includes a North-East Economic corridor to improve the connectivity in the North East India. It will improve India's connectivity to Nepal, Bhutan, Bangladesh and Myanmar.
"Bharatmala will give the country 50 national corridors, compared with six at present".
There will be 9,000 km of economic corridors, inter-corridor and feeder routes (6,000 km), national corridors efficiency improvement (5,000 km), border roads and global connectivity (2,000 km), coastal roads and port connectivity (2,000 km) and greenfield expressways (800 km) in the first phase. 70 to 80 per cent of freight will move along the national highways against 40 per cent at present.
Union Transport Minister Nitin Gadkari said the project award would take place in the later half of 2018 and the government is hopeful that the scheme would elicit a great response from the private sector.
The Minister also spoke of exploring pension and other investment funds while money can be raised through bonds and NHAI, a flagship organisation of the Ministry that has a rating of AAA+.
Commenting upon the growth registered by the Indian ports, Gadkari said they will earn Rs60,000 crore profit in the current financial year.
Government's proposed Bharatmala Highway Project will be completed in next 5 years with an estimated cost of ₹7 lakh crores.
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