Greenfield Expressway: Nitin Gadkari announces projects worth 4.5 lakh cr cr to stretch 10,000 km

Union Minister Nitin Gadkari said the government is constructing a series of greenfield expressway projects totaling up to 10,000 km across India with a budget of Rs 4.5 million, the report said.

The minister mentioned that the entire road network was built under the Bharatmala Pariyojana. More than 70,000 crore rupees have been created through various funding opportunities from the National Highway Authority of India (NHAI) and the funds generated thereby will be used to construct highway projects, he said.

Speaking at an event organized by IIM Kozhikode on “Infrastructure Funding Management Development Program,” the minister said, “The government has planned in Bharatmala Pariyojna to develop 65,000 km of highways covering the whole country.” “We are building 10,000 km of greenfield expressway, which will cost Rs. 4.5 million, and the road network of the first phase is 34,800 km,” PTI reports.

Several NHAI efforts to upgrade National Highways

The Roads, Transport and Highways Minister said there is currently a huge increase to about 1.45 lakh km, comparable to 91,000 km across India’s national road network. The minister said NHAI employs multiple methods to monetize national highway assets, such as project-based financing, ToT (Toll-Operate-Transfer) and InVIT (Infrastructure Investment Trusts). Asset monetization plays a crucial role in generating investment in infrastructure.

NHAI uses many innovative financing techniques and has raised more than 70,000 crore rupees. Around Rs.34,000 crore was raised through securitization via SPVs, Rs.26,000 crore is raised through the ToT model and Rs.10,000 crore is raised through NHAI InVIT (National Highways Infra Trust).

With the conception of the national master plan and the national infrastructure pipeline by Prime Minister Gati Shakti, the government has given the economy an enormous boost, the Union Minister added. The new infrastructure projects covered under these plans will help connect the most remote parts of India and support integrated and comprehensive development across the country by reducing time and costs.

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