Govt clears 18 highways projects worth Rs 17,000 crore

08 Feb 2016 Evaluate

In order to speed highways building, the government has given its approval for 18 highway development projects worth Rs 17,000 crore investments totaling about 1,000 km of highways. These projects will be awarded by March-end. The approved projects can be rolled out soon since adequate land is available for these works and there are hardly any cases where environment and forest clearances are required.The panel with representatives from departments such as finance, expenditure and Niti Aayog is headed by road transport secretary Sanjay Mitra.

Out of the 18 approved projects, 11 will be awarded through Hybrid Annuity mode, which was recently approved by the Cabinet. In this case, the government will pay back the entire investment in a staggered manner and the companies will get 40% of the project cost up front during construction. Further, six of the approved projects will be undertaken through public funding mode known as EPC (engineering, procurement and construction) and the rest one will be on build operate and transfer (BOT-Toll) mode.

The projects under EPC mode include Rs 1,249 crore Bar-Bilara-Jodhpur stretches on NH 112 in Rajasthan, Rs 1,453 crore Mukkola Junction-Kerala stretch in Kerala, Rs 426 crore Kamrej-Chaltan stretch on NH 8 in Gujarat and Rs 813 crore Aligarh-Muradabad stretch in Uttar Pradesh. The other projects on EPC mode are Rs 1,070 crore end of Jalandhar bypass-Hoshiarpur-Punjab/Himachal Pradesh border in Punjab and Rs 995 crore Karnataka/AP border to Gooty section on NH 67 in Andhra Pradesh besides Rs 1,102 and Rs 491 crore projects in Maharashtra and Chhattisgarh, respectively. The only BOT project pertains to Rs 1,280 crore Dhule to Aurangabad section of NH 211 in Maharashtra.

In a bid to revive public-private-partnership (PPP) mode and attract more investments in roads projects, last month the government has approved hybrid annuity model for building roads. The hybrid annuity model is a mix of EPC and build-operate-transfer formats, with the government and the private companies sharing the total project cost in the ratio of 40:60 respectively. Under this model, the government will provide 40 per cent of the project cost to the developer to start work, while the remaining investment has to be made by the developer. The government has set a target of awarding 10,000 km during the ongoing fiscal year.

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