10:57 AM (MON): Road Min to invest Rs2.64 lakh cr on highways

Mumbai, August, 1 (EPC News): The Road ministry plans to shed an investment of over Rs2.64 lakh crore in the road sector in the next five years.

"The pace of infrastructure development needs acceleration if the gaps are to be bridged. We are looking at an investment ofRs 2.64 lakh crore in the highways sector in the 12th Five-Year Plan (2012-17)," Road Transport and Highways MinisterC P Joshi.

Of the total investment the National Highways Authority of India (NHAI) will shell out Rs 87,000 crore and the remaining Rs 1.77 lakh crore will be envisaged from the private players. The NHAI has managed to award three mega road projects, which would fetch the national highway authority hefty annual premium ofRs 683 crore from players like GMR. Overall, the NHAI awarded four projects worth Rs 9,500 crore on July 29. Till now, NHAI virtually used to provide grants on schemes to road developers to make the projects viable.

EPC News Bureau