GOI has approved eight highway projects worth Rs 6,000 crore for six states – Punjab, Jharkhand, Madhya Pradesh, Rajasthan, Himachal Pradesh and Odisha. With this approval, the number of projects cleared by Road Transport and Highways Ministry this month so far has swelled to 37, entailing a total investment of about Rs 34,000 crore.
The government cleared eight highway projects worth Rs 6000 crore. The total length of the projects is around 350 km. Out of these eight, six will be implemented in EPC (engineering, procurement and construction) mode and two in hybrid annuity mode. These projects won’t require cabinet clearance as their construction cost is less than Rs 1,000 crore, the limit up to which the road transport and highways ministry can approve projects on its own. Most of these projects are in Punjab, Himachal Pradesh, Rajasthan, Maharashtra and Madhya Pradesh.
The government has a target of awarding road contracts of 10,000 kms for this fiscal. It has already set a target to increase the length of National Highways to 2 lakh kms from the existing 96,000 kms.
The National Highways Authority of India (NHAI) is an autonomous agency of the Government of India, responsible for management of a network of over 70,000 km of National Highways in India. It is a nodal agency of the Ministry of Road Transport and Highways.
Extra Info :
Hybrid Annuity Model : According to this model 40 % of the project cost is to be provided by the government as construction support to the private developer during the construction period and the balance 60 per cent as annuity payments over the concession period along with interest on outstanding amount to the concessionaire.
Chairman Of NHAI : Raghav Chandra
So lets discuss some questions related to this article which can be asked in the upcoming exams :
1. Expand the term EPC.
2. How many highway project have been approved by GOI ?
3. Expand the term NHAI .
Courtesy : The Economic Times