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India to spend Rs 2.64 lakh cr on highways in 12th Plan

India to spend Rs 2.64 lakh cr on highways in 12th Plan

In the next five years, the Union government is expecting an investment of over Rs 2.64 lakh crore in the road sector, of which over 65 per cent will come from the private sector. The move follows the concern raised by Prime Minister Manmohan Singh on the shor­tage of highways in the country.

National Highways Authority of India (NHAI) will shell out Rs 87,000 crore while the remaining Rs 1.77 lakh crore is envisaged from the private players. Road Transport and Highways Minister C P Joshi said all efforts are being made to accelerate road building process and during January-June period this year, the work has been completed in a length of 1,042 km.

This month, NHAI has managed to award three mega road projects, which would fetch the national highway authority hefty annual premium of Rs 683 crore from players like GMR.

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