Road projects News

Railway, Aviation And Road projects are aimed at the development of the overall connectivity of Jammu and Kashmir to other parts of the country.  

Union Minister Nitin Gadkari and CM Shivraj Singh Chouhan will lay the foundation stone of five road projects of 329 km worth Rs 1261 crores at Police Ground, Mandla. 

The National Highways Authority Of India or NHAI has awarded 150 road projects in the Financial Year 2017-18. These projects, with a combined length of 7,400 km, are worth Rs 1,22,000 crore. 

Prime Minister Narendra Modi on Tuesday said India could no longer afford to delay modernisation of its infrastructure if the country was to scale new heights.

New Delhi: In a stern warning to officials over faulty project reports, Union Minister Nitin Gadkari on Monday cautioned that officials concerned could be booked in case of accidents happening due to flawed road designing.  

After simplifying procedures for building highways, the government plans to award a total of 10,000 km of road projects by the end of current fiscal, Finance Minister Arun Jaitley said Thursday.  

Union Minister Nitin Gadkari has assured Arunachal Pradesh that all road projects including state highways and the Itanagar- Banderdewa four-lane national highway will be taken up without land compensation.

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.

Easy exit options for completed road projects will release Rs 4,000 crore to developers, which can be ploughed back in infrastructure projects or used to retire debt, India Ratings and Research (Ind-Ra) said on Monday.

The government Wednesday allowed developers to divest 100 percent equity in projects two years after the completion of such schemes, a move that can unlock investments worth about Rs 4,500 crore in the sector.

The National Highways and Infrastructure Development Corporation (NHIDCL) will also be laying out 1,500 km of highways in various states under Modi government's ambitious Bharat Mala project.

"Company will lead the joint venture with 51 percent participation share," it said.

Currently, Rs 31,025 crore worth of roads running into over 3,700 km are under development, which are being constructed by 10 players through 104 projects.

The government plans to sell highways projects worth Rs 1 lakh crore to foreign pension and insurance funds to attract overseas investments into the sector, Union Minister Nitin Gadkari said on Wednesday.

Delays in acquisition of land for construction of highways has hit projects even as government has acquired over 31,000 hectares for building roads in the last three years, Parliament was informed Thursday.

IRB Infrastructure Developers on Tuesday said it has tied up finances of Rs 1,756 crore to fund a project with a total cost of Rs 3,177 crore.

Finance Minister Arun Jaitley Saturday rejigged excise duty on petrol and diesel to make available an additional Rs 40,000 crore for road and highway development.

Construction work in 12 road projects, which were awarded in FY 2014, has started, indicating a proactive government and faster approvals by the implementing agencies, a study by Crisil Research said.

Delays in decision-making by authorities, flaws in developer agreements and absence of a clear blueprint for highways have scuttled road sector's growth and PPP projects, NHAI Chairman R P Singh said on Tuesday.

The conglomerate headed by billionaire Ajay Piramal is hunting for road projects put up for sale by stressed developers, betting a change of government will stimulate growth and revive an infrastructure sector plagued with delays.