The Highways Bill could represent the first major step taken by the government towards the creation of an independent authority with the power to cut delays and streamline the project approvals processes, thereby addressing major problems faced by the Indian roads and highways industry today and potentially opening up huge private investment, writes Aakanksha Joshi.
Punj Lloyd, a leading engineering, procurement and construction (EPC) conglomerate, has received a letter of intent from GMR Projects for undertaking design, engineering, procurement and construction of 124 km of six lane of Chittorgarh bypass to Udaipur, in the state of Rajasthan. Worth Rs 1,050 crore, the project is scheduled for commissioning in 36 months.
The net present value of the bids NHAI has received this FY from NVGF from 12 projects on DBFOT is to the tune of Rs 16,500 crore. JN Singh, Member (Finance), NHAI, explains to Shashidhar Nanjundaiah why this limited revenue stream will go a long way in all-round road development.