Transforming India: Highways to Prosperity
Union Minister Nitin Gadkari emphasizes the importance of infrastructure development in strengthening India's economy. The Ministry of Road Transport and Highways plans to convert 25,000-30,000 km of two-lane highways into four-lane highways, investing Rs 10 lakh crore and leveraging the InvIT model for funding. The BOT model's benefits and challenges are discussed.
- Country:
- India
Union Minister Nitin Gadkari emphasized infrastructure development as vital for bolstering India's economic might. Speaking on Thursday, he disclosed the ministry's decision to expand 25,000-30,000 km of two-lane highways into four lanes, with a monumental investment of Rs 10 lakh crore.
Gadkari highlighted the Ministry of Road Transport and Highways' strategic shift towards utilizing the Infrastructure Investment Trust (InvIT) model, a mutual fund-like instrument, for financing highway projects. This initiative aims to draw funds from Indian investors to fortify national highways.
The minister also discussed the government's plans to revise the Build-Operate-Transfer (BOT) model, with long-term toll collection agreements, while stressing the importance of quality and cost-control in highway construction projects.
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