Highway projects News

Nitin Gadkari will inaugurate, lay the foundation stone for 18 highway projects in Rajasthan today These projects carry a road length of nearly 1,127 kilometres, involving a construction value of Rs 8,341 crores.

These nine highway projects involve a road length of about 350 kilometres at a cost of Rs 14,258 crore.

The projects for inauguration include 35.45 km 4-lane Rohna/ Hasangarh to Jhajjar section of NH 334B costing Rs 1,183 crore, 70 km 4-laning of Punjab-Haryana Border to Jind section of NH 71 (Rs 857 crore), and the 85.36 km 2-lane with paved shoulders Jind-Karnal Highway on NH 709 (Rs 200 crore).

Union Home Minister Rajnath Singh will inaugurate and lay the foundation stone for highway projects in Lucknow on Thursday.

The central government on Tuesday approved nine highway projects at a cost of Rs 2,600.31 crore, a statement said.

Government on Tuesday approved nine highway projects in five states to be executed at a cost of Rs 2,600 crore.

The government on Wednesday approved hybrid annuity model for building roads to fast-track highway projects, revive the Public-Private-Partnership (PPP) mode and attract more investments in the sector.

The government on Wednesday unveiled two key policy initiatives to revive the infrastructure sector, which include compensating developers in case of delays in highway projects and empowering the ministry concerned to okay projects with civil construction cost of up to Rs 1,000 crore.

 The Mamata Banerjee government which has faced criticisms from different quarters over its land policy, on Sunday received kudos from the Union Road Transport secretary who said his ministry has got huge support from the West Bengal government over the last one year for procuring land for the highway projects in the state.

As the roads and highways sector grapples with a massive problem of funds going bad, the role of banks have come under scrutiny for "happily over-financing" a large number of projects without necessary due diligence and thus creating a 'scam-like' situation.

Around 50 percent of the projects under-construction are at high risk of not being completed because of significant cost over-runs and weak wherewithal of sponsors.

Gammon Infrastructure has sold stake in 9 projects valued at Rs 6,750 crore to Brookfield and Core Infra India Fund, a deal that will fetch Rs 563 crore as well as reduce its debt by Rs 1,718 crore.

The government on Wednesday allowed developers to exit highway projects two years after they are completed, a move that will unlock investments worth Rs 4,500 crore and provide renewed thrust to the sector.

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, gave approval for development of the eight-laning of Mukarba Chowk to Panipat section of National Highway 1 in Delhi and Haryana.

The government Tuesday approved three highway projects worth Rs 9,500 crore in Tamil Nadu and Uttar Pradesh, including those connecting Varanasi -- the Lok Sabha constituency of Prime Minister Narendra Modi.

Efforts to fast-track clearances in the highways sector will yield positive results beginning the first quarter of 2015-16, rating agency ICRA said Monday.

The government Thursday approved over Rs 8,600 crore of highway projects in Uttar Pradesh, Odisha and Chhattisgarh.

Slamming the cement industry for indulging in "cartelisation", Union Minister Nitin Gadkari on Wednesday said it is pushing up costs for roads and highway projects even as he promised a number of steps including revamp of NHAI to help the sector.