The minister said that projects specially about Rs 1 lakh crore Delhi-Mumbai express highway can offer instant right of way to players interested in setting up LNG stations, electric charging stations or petrol pumps. Addressing a conference on 'Future Fuels for Transportation' by FICCI, the minister said plans were afoot to set up 2,000 petrol pumps, including LNG.
RIL is in talks with state governments and local bodies across the country for offering the technology.
At Rs 860 crore, funds released by the government to BBMP for special infrastructure projects so far this year are a little over 40% of the Rs 2,129 crore provided during 2016-17 by the then Siddaramaiah-led Congress government. Such projects include laying new roads, building flyovers and drains.
The National Highways Authority of India (NHAI) has proposed insurance cover for road projects, in a step that could help bring in credible project developers and mitigate construction period risks.
It will help cities in moving towards data-driven governance that will eventually improve liveability.
Exactly three years from now, you will be able to drive down from Delhi to Mumbai in 12 hours, road transport minister Nitin Gadkari said.
"We will complete the flagship Delhi Mumbai Express Highway in the next three years. The work will be done in 51 packages and work has already been started on 18. This will be India's longest expressway at 1,320 km and will reduce travel time between Delhi and Mumbai from 24 hours to 13 hours," the road transport and highways minister said.
Minister of road transport and highways Nitin Gadkari said that while there were problems with respect to delays in projects and rising cost of construction, among others, the ministry was working to address them. The minister added that the cost of the first phase of Bharatmala, the govt’s flagship highway construction programme, has increased to Rs 9.5 lakh crore.
As many as 40% of roads have completed their design life and require repair/renewal. But funds are elusive.
Projects of South Zone (Tamil Nadu, Kerala, Andhra Pradesh, Telengana, Pondicherry, Karnataka) and Central Zone (Chhattisgarh, Rajasthan, Madhya Pradesh and Gujarat) will be reviewed on Thursday, while the projects of Haryana, Odisha, Uttar Pradesh, Bihar, Jharkhand and West Bengal will be taken up on Friday.
NIIF already counts CPPIB, Abu Dhabi Investment Authority, AustralianSuper, Ontario Teachers’ Pension Plan, Temasek, Axis Bank, HDFC Group, ICICI Bank and Kotak Mahindra Life Insurance as investors in the NIIF Master Fund, along with the government of India.
"In the last five years, I have awarded contracts worth Rs 17 lakh crore. This year, I'm planning to touch Rs five lakh crore mark in spending on infrastructure development," Gadkari said.
An affidavit by the board said that “of the five ITNL sale SPVs, voting had commenced for four SPVs. On account of concerns raised by the CoCs of the five SPVs, voting process has been put in abeyance.”
The National Highways Authority of India (NHAI) has settled a road project with Infrastructure Leasing & Financial Services (IL&FS) at Rs 672 crore, one of the first as the debt-laden group moves to resolve stuck projects through conciliation.
“Our goal is to make good quality roads in the least time possible and reduce the cost of construction,” Gadkari said at the National Highways Excellence Award 2019 event here on Tuesday. “I am after my Secretary (road transport and highways) to give me a list of unproductive people,” Gadkari said.
“We will do more of EPC projects at the moment,” Gadkari told ET in a brief interaction. With the ministry’s priority being monetisation of assets, engineering, procurement, construction (EPC) — which is entirely funded by the government —is the preferred mode of project award, Nitin Gadkari said.
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