Govt identifies 53 road projects worth Rs 21 lakh crore; Details inside-
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New Delhi, Jan 19: The Ministry of Road Transport & Highways has identified 53 road projects worth Rs 2.1 lakh crore to be awarded on a build-operate-transfer model, said the ministry in a statement on Wednesday. Out of the total 53 projects for a length of 5,200 km, bids for seven highways with a length of 387 km worth Rs 27,000 crore have been invited, it added.
"Going forward, 53 BOT (Toll) Projects for a length of 5200 km worth Rs. 2.1 lakh crore have been identified and bids for 7 projects with a Length of 387 km worth Rs. 27,000 crore have been invited," it said.
The Ministry of Road Transport and Highways (MoRTH) will come out with a modified build-operate-transfer (BOT) project document in the next one month to attract private companies for investments in the highways sector, the statement said.
At present, projects are being awarded on engineering, procurement and construction (EPC) or hybrid annuity (HAM) mode due to various challenges in the implementation of BOT projects. These projects provide the risk of financing, building and operating highway projects with a concession period of 20-30 years.
"NHAI is making efforts to fast-track clearances and make the entire system transparent and time-bound to make BOT projects attractive," road transport minister Nitin Gadkari said at a conference on BOT projects on Wednesday.
Gadkari also said that “We are committed to revive BOT model and make it investment friendly and attractive for private partnerships. This will not only strengthen the road infrastructure but will have a ripple effect that will help to strengthen the economy, increase the employment potential and reduce the logistic cost.”
📍 𝓝𝓮𝔀 𝓓𝓮𝓵𝓱𝓲 | Addressing Conference on BOT Projects organised by MoRTH. https://t.co/vpjjtvFBlY
— Nitin Gadkari (@nitin_gadkari) January 17, 2024
Gadkari asked concessionaires to improve the quality of road construction and reduce the cost of the projects viable. "We want to give a renewed push to BOT projects and have urged banks to liberalise financing to the road infrastructure sector," Gadkari added.
Also, speaking at the event, NHAI chairman SK Yadav said the idea behind the modified BOT project document is to eliminate discrepancies and make BOT projects attractive. As part of the government of India's 'Vision @2047' plan, a large number of high-speed corridors are envisaged to be developed.