Gadkari Unveils Massive Road Project Plans, Targets Rs 5 Lakh Crore Contracts

Transport Minister Nitin Gadkari announced plans to award road contracts worth Rs 3 lakh crore within three months and aims to reach Rs 5 lakh crore by March 2025. He emphasized the resilience of NHAI in the capital market and addressed issues faced by the construction equipment industry.

Road Transport and Highways Minister Nitin Gadkari has proclaimed an ambitious plan to award road contracts worth Rs 3 lakh crore within the next three months and aims to close the financial year with contracts valued at Rs 5 lakh crore.

Speaking at an event, Gadkari attributed the initial slow pace of awarding road projects to the Lok Sabha elections and the model code of conduct. He assured that the ministry will finalize contracts exceeding Rs 3 lakh crore soon, targeting over Rs 5 lakh crore in road contracts by March 2025.

Gadkari also highlighted the robust funding avenues for these projects, citing NHAI's strong reputation in the capital market. He noted that the current toll income of Rs 45,000 crore is expected to surge to Rs 1.4 lakh crore in two years.

The minister acknowledged challenges faced by the construction equipment industry, particularly around customs duty, and pledged support to enhance productivity and exports. He also discussed India's automobile industry, encouraging competition with China and aiming for the second-largest automobile industry spot globally.

(With inputs from agencies.)