The Narendra Modi government is eyeing the construction of 950 kilometres of highways at a staggering cost of Rs 30,000 crore.
Modi government has said that the National Highways Authority of India (NHAI) has identified stretches cover 950 km of highway projects.
According to a media report, the central government said, these will be done under the public-private partnership (PPP) mode.
The various identified stretches are spread across 8 states in India. The projects will fall in Madhya Pradesh, West Bengal, Haryana, Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, and Chhattisgarh.
In a statement the Ministry of Road Transport and Highways said, the pan-India basis projects will be constructed through the PPP mode on the build-operate-transfer (toll) basis.
About 950 km of stretches were selected on the basis of consultation with the prospective bidders.
The authority has said, the NHAI has already invited the proposal for annual pre-qualification for constructing 4 or 6 lanes of national highways for these stretches.
The NHAI has said that the process of annual pre-qualification will streamline and ease process of bidding of the individual project under the BOT (toll) mode.
NHAI further added, it will also give an idea about the market response.
In recent times, consultancy firm KPMG said that if the Modi government wants to continue its efforts to build roadways infrastructure in India, the Centre needs to invest around Rs 19 lakh crore in the next 5 years to build highways in the country.
As per the report, the Ministry of Road Transport and Highways (MoRTH) has been mulling development of a staggering 60,000 km of highways by 2024.
KPMG said that the highways infrastructure required average annual fund of around Rs 3.8 lakh crore.
Moreover, Nitin Gadkari-led Ministry of Road Transport and Highways has been concentrating on construction of roads and highways as enablers of economic growth. The construction of physical infrastructure makes remote areas easily accessuble and also has a multiplier effect on the economic growth.