Rs 6.92 lakh crore road projects unveiled for mega infra booster

Rs 6.92 lakh crore road projects unveiled for mega infra booster

Rs 6.92 lakh crore road projects unveiled for mega infra booster

For the BMP programme, Rs 2.09 lakh crore will be raised as debt from the market, Rs 1.06 lakh crore of private investments would be mobilized through PPP and Rs 2.19 lakh crore is to be provided out of accruals to the Central Road Fund (CRF), toll-operate-maintain transfer (ToT) monetisation proceeds and toll collections of the National Highways Authority of India (NHAI).

Union Road and transport minister Nitin Gadkari today addressed the media on the mammoth Bharatmala highway project. This, officials said, will provide alternate route to traffic coming from these highways.

Around 26,200 km of economic corridors, 8,000 km of inter-corridors and around 7,500 km of feeder corridors have been identified under Bharatmala. The Delhi-Meerut package will be completed soon. Once the third ring road will be constructed, people would straightaway cross Alipur and enter the airport. "We will have 50 economic corridors against the existing six", Road Transport and Highways Secretary Yudhvir Singh Malik told a press conference.

Taking forward its commitment to providing more efficient transportation, the Government has debottlenecked the roads sector and significantly stepped up the highway development and road building programme, he said.

Mr Gadkari said that development of projects under the umbrella programme would generate substantive employment opportunities across the country. He also highlighted 185 choke points identified to decongest corridors. Even inter-country trade will be facilitated by improving infrastructure leading to border points apart from national security getting strengthened due to improved road connectivity. The minister said multimodal freight movement via seven waterway terminals on river Brahmaputra. The project will transit through Bangladesh to improve the North East connectivity.

Gadkari said the work on project preparation was in an advanced stage for 19,500 km and about 9,000 km bids were invited for engagement of consultant for preparation of Detailed Project Report (DPR) and total 550 districts would be connected with NH under the project.

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Bharatmala will also have a positive impact on the Logistic Performance Index (LPI) of the country. 70 to 80 per cent of freight will move along the national highways against 40 per cent at present. "The entire programme will be transparent, corruption-free with full emphasis on quality".

"The quality of highways would be such that they would see no potholes for the next 100 years", he said.

"Money is not the problem", Gadkari said while stating that NHAI has a AAA rating which will help it tap the capital markets.

Gadkari, however, admitted that land acquisition for this massive highway expansion program will be "tough and complicated". The project will be divided into two parts - Rs 5.35 lakh crore investments will be made under Bharatmala Pariyojana scheme to construct 34,800 km of roads.

Bharatmala Phase I will be implemented from 2017-18 to 2021-22. While further talking about it, he added, "Bharatmala will lead to significant improvements in road safety and save lives".

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