The Union Cabinet approved proposals for two highway projects worth over Rs 5,000 crore. The Rs 2,015.6 crore highway project in Bihar will be implemented with financial assistance from Japan. The other one is four-lane 368.2-km-stretch in Odisha. The Cabinet Committee on Economic Affairs (CCEA) also approved the implementation to four-lane the Patna-Gaya-Dobhi section in Bihar with Japan International Cooperation Agency (JICA) loan assistance.
Tag: Highway projects
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Road contractors may be given more time to get funds
In a bid to prevent the exodus of private road contractors from highway projects, the Union government plans to extend the time required for road contractors to achieve financial closure. This is in case there is a delay in getting the required government clearances.
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MoEF should decide over green nod for projects: NHAI
With the Prime MinisterÂ’s Office stepping in to resolve the row between the National Highways Authority of India (NHAI) and the Ministry of Environment and Forests (MoEF) over forest clearances to highway projects, the NHAI has communicated that the ball is now in the ministryÂ’s court.
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Nod to Rs 5,652 cr road projects in Bihar,J’khand, Odisha
Two highway projects for widening of roads in Bihar, Jharkhand and Odisha have been approved by the Union government at an expenditure of Rs 5,652.03 crore. The projects approved by the Cabinet Committee on Economic Affairs (CCEA) included Rs 2,015.60 crore scheme for widening of Patna-Gaya-Dobhi section in Bihar and Rs 3636.43 crore project for Baharagora-Sambalpur stretch in Odisha and Jharkhand, an official statement said.
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The bidding process is good for small, medium and large players
Banks’ new stipulation of 100 per cent land availability for highway projects, along with poor response from bidders and financial closure difficulties among concessionaires, have hampered the awards and implementation, says JN Singh, Member—Finance, NHAI, in an interview with Sumantra Das. Major reason behind this is the poor responses from the concessionaires and in some of our bids (about 7-8) we haven’t even find any bidder. Secondly, banks also are asking our 100 per cent land availability
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Delay in land acquisition stalls Rs 15k cr road projects
An official in the Union Road Transport and Highways Ministry has said that 16 major highway projects in four states entailing about Rs 15,000 crore investment
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New scheme to lure cos to highway projects
The government has drawn up a new scheme of ultra mega road projects (UMRPs), where firms will have the right to develop real estate alongside the stretches. This is to boost the viability of road products without adding to fiscal stress and attract big corporations into the sector. Each UMRP will be marked for its sheer size - Rs 20,000 crore each - and the resultant gain on cost efficiency.
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Morgan Stanley-Isolux to invest in Indian roads
Morgan Stanley Infrastructure (MSI) and Spanish Group Isolux Corsan have decided to jointly invest $200 million each in Indian infrastructure, preferably highways.