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Over 1,600 km of roads will be upgraded in Tamil Nadu with World Bank funding of over Rs 8,533 crore, according to the Secretary for Highways and Minor Ports, Rajeev Ranjan
The State Government has also stepped up funding for improving roads as part of a general initiative on infrastructure development to sustain economic growth.
It has earmarked Rs 2,980 crore under the Comprehensive Road Infrastructure Development programme in the current year against Rs 2,200 crore last year. The objective of the programme is to upgrade over 2,000 km of six-lane roads to eight lanes and 5,000 km of four-lane roads to six.
At the first meeting of the Tamil Nadu Infrastructure Development Board, the agency that identifies and prioritises infrastructure projects in the State, has allocated Rs 65 crore for detailed project reports and feasibility studies for road projects, he said. He was addressing the inaugural of Summinfra, a two-day seminar on infrastructure organised by the Confederation of Indian Industry.
S. Krishnan, Principal Secretary – Planning & Development, Tamil Nadu Government, said despite the overall slow down in lending for large projects, the State Government has a clear plan to focus on infrastructure projects. It has estimated that over Rs 15 lakh crore funding will be needed for investment in infrastructure over the next 10 years, and is prepared to go ahead with public funding initially.
The Government has set up 14 expert panels in various areas relating to infrastructure such as transactions, technology and commercial advisors to guide the implementation of infrastructure project across sectors. Government agencies can engage these panels to guide them, he said.
Paritosh Gupta, Chief Executive Officer, IL&FS, said South India represents the ‘sweet spot’ for infrastructure development with over Rs 3 lakh crore going into capital expenditure annually.
The Governments have recognised corridor-based development with Chennai-Bangalore and Bangalore-Mumbai corridors set to attract major investments. balaji.ar@thehindu.co.in
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