Rs 4 lakh crore needed to fund stalled highway projects
The government needs about Rs 4 lakh crore, including borrowings of about Rs 1.53 lakh crore, in the next four years to complete stalled highways projects.
It has reviewed stalled road projects under different phases of the National Highways Development Project (NHDP) and directed NHAI to focus on completion of on-going projects and evolve innovative financing models, Minister of State for Road Transport and Highways P Radhakrishnan said.
NHAI has also been asked to strive for regular bilateral or multi-lateral funding and private participation on high priority projects.
“On the basis of this revised work plan and considering its cost alongwith the revised parameters for the actual cost of land acquisition, funds requirement has now been estimated at about Rs 2,37,000 crore and borrowings at about Rs 1,53,000 crore over a period from 2015-16 to 2019-20,” Radhakrishnan said.
The NHAI had earlier estimated fund requirement of about Rs 4.11 lakh crore, including borrowings of Rs 1.80 lakh crore, by 2030-31 for awarding balance length of NHDP by 2015-16.
The projects reviewed included Rs 1,082 crore project for four-laning of Bahrampur-Farakka stretch of NH 34, Rs 3,039 crore project for six-laning of Gurgaon-Kotputli-Jaipur highways under NH-8 and Rs 424 crore four-laning of Gwalior-Jhansi stretch on NH 75.