The Hindu Business Line : Govt to spend Rs 1,72,000 cr on national highway projects

IN the next seven years, projects worth Rs 1,72,000 crore are proposed to be taken up to upgrade the country's national highways, according to Mr T.R. Baalu, Union Minister of Highways.

The proposals include the third phase of the National Highways Development Programme to provide links between ports and national highways, Mr Baalu told newspersons. The mega project will also cover the fourth phase of the programme, to provide link between all district capitals and national highways.

To fund the mega project, the Ministry will seek market borrowings worth Rs 30,000 crore, external assistance of Rs 30,000 crore, private capital of Rs 75,000 crore and budgetary support of Rs 37,000 crore, he said.

The 10,000-km third phase would be completed at a cost of Rs 55,000 crore and the project will be placed before the Cabinet for approval in the next couple of weeks.

This project was conceived by the previous Government, and has the approval of the Planning Commission and the Union Finance Minister. It has been placed before the National Infrastructure Committee, which is headed by the Prime Minister.

The project will be constructed under a build, operate and transfer (BOT) basis and is likely to be completed by 2010. Around Rs 35,000 crore of the estimated costs will come from the private sector, said Mr Baalu.

According to Mr Baalu, the Ministry will not announce any new national highways till all the existing national highways become double lanes. Out of the total 65,569 km of national highways in the country, 7 per cent is four lane, 58 per cent is double lane and 35 per cent single lane, he said.

On the golden quadrilateral corridor, Mr Baalu said 74 per cent of the 5,846-km work has been completed and 92 per cent of the work would be completed before December 2005. "Due to legal cases and land acquisition problems, we do not know when we will achieve 100 per cent," he said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Govt to spend Rs 1,72,000 cr on national highway projects