Centre envisages $80-bn investment on roads, highways
Mumbai: The Centre is envisaging an investment of USD 80-billion in the construction of roads and highways over the next four years, half of which is likely to come from private and foreign investors, Union Road Transport and Highways Minister, Kamal Nath said on Thursday.
India also plans to put up 120 projects, covering 12,000-kilometres of roads for bidding in the next 8-10 months, he said.
"There are projects under the process of tendering at present. We plan to bid out 12,000-kilometres of roads in the next 8-10-months, which means there will be 120 projects up for bidding. This is likely to bring in an investment of USD 20-billion," Nath told reporters here.
"Over the next 4-years, we are looking at an investment of USD 80-billion in construction of roads and highways. Of this, USD 42-billion is expected from the private sector," he said.
The Minister said these funds would flow into India in the form of debt, equity, pension funds and insurance funds.
He said the Centre is also considering a proposal to relax External Commercial Borrowing norms (ECBs).
The Centre was revising its toll policy and was looking to levy a toll only on commercial vehicles plying between two cities.
"We are revising the toll policy wherein there will not be any toll levied for local traffic. But the toll will be levied on commercial vehicles going to and from city to city," he said.
Nath said the Centre will also release a book of specification in the next ten days, which would lay down liberal guidelines in terms of technology for players interested in building India's road network.