MoRTH hastens Rs. 20,000-cr stalled projects

    Nitin Gadkari
    To bring the stalled road and highway projects back on the developmental track, Road and Transport Minister, Nitin Gadkari recently held a mega meeting with bankers in Mumbai to evaluate and negotiate financing of these projects. The projects, which entailed a staggering investment of Rs. 20,000-cr were got stuck in the absence of securing financial closure within the stipulated timelines. Also, the projects largely remained in limbo due to disagreements, cost escalations and uncertainty over the financial viability of these projects, said transport ministry sources, claiming that on this score, a two-member committee will be formed to look into the revival of projects. The committee in question will have representatives from banks and National Highways Authority of India.
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