MoRTH speeds up 22 e-ways worth ₹10 lakh-cr

The Union Minister of Road Transport and Highways recently claimed that 60 percent of the projects under the Delhi-Mumbai Expressway have already been awarded and will be completed in the next three years. Elsewhere in the country, the government will speed up implementation of 22 expressways at an investment of ₹10 lakh crore. The expressways have been planned to crisscross Delhi, Gurugram, Mewat, Kota, Ratlam, Vadodara, Surat and Mumbai. Land acquisition has been completed at a minimum cost of ₹80 lakh per hectare. As regards project finance, a separate financial arm for road transport and highways is being set up. NHAI has good credibility in the international market, however, the cost of capital in India is high due to higher interest rates and arriving at a financial model of investment in NHAI projects will be beneficial for all stakeholders. The minister added that the route for Delhi-Mumbai Expressway was deliberately routed around the backward areas of Rajasthan, Madhya Pradesh and Maharashtra and development of logistic parks and industrial clusters along the highway would raise employment and growth potential in these regions.