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Govt to Invest Rs 4.5 tn in 10,000 km Greenfield Expressway Projects

2023-07-04

The Union Minister announced that the government plans to construct several greenfield expressway projects totalling 10,000 km throughout the country. He mentioned that the road, transport, and highways minister stated that the cost of these projects is estimated to be Rs 4.5 trillion. He further explained that these road networks are being established as part of the Bharatmala Pariyojana.

During an event on 'Management Development Program on Infrastructure Financing' organised by IIM Kozhikode, the minister stated, "The government has conceptualized the Bharatmala Pariyojna, which aims to develop 65,000 km of highways across the country. The initial phase of this project consists of a road network spanning 34,800 km. Additionally, we are currently constructing 10,000 km of greenfield expressways, with a projected cost of Rs 4.5 trillion."

The minister also mentioned that the National Highways Authority of India (NHAI) has generated over Rs 700 billion through various financing models. These funds will be utilized for the construction of highway projects.

According to the minister, India's total National Highway (NH) network has expanded from 91,000 km in 2014 to nearly 1.45 lakh km at present. Gadkari further added that the government has significantly stimulated the economy through the national infrastructure pipeline and PM Gati Shakti National master plan.

These programs aim to achieve comprehensive and integrated development throughout the country, while also reducing costs and time. By connecting remote areas, these new infrastructure projects will play a crucial role in achieving this goal. The minister stated, "Asset monetisation is a key aspect of infrastructure investment. NHAI holds a 27% share in the national monetization pipeline. We are actively pursuing various models of monetization for national highways assets, such as Toll-Operate-Transfer (ToT), Infrastructure Investment Trusts (InVIT), and project-based financing."

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