NHAI awards highest ever road projects

According to Bloomberg, the current NDA government has created a record of sorts by awarding highest ever road contracts worth over Rs.1 lakh crore at a 'breakneck pace' in the outgoing financial year and has climbed up from Rs.60,000 crore in the preceding fiscal. Going by the tender pipeline, the current pace of order flows is likely to continue during this fiscal as well. While an analyst Alok Deora with IIFL Wealth Management said that in the last 5 years, the average length of road projects awarded by the NHAI was 2,860 km with 4,335 km awarded in the last financial year. In comparison, the length of projects awarded in FY 2017-18 is an all-time high and a record achievement by the NHAI since its inception in 1995. NHAI is at the centre of PM's ambitious “Bharatmala” plan to build 83,677 km of road by 2022 to boost economic growth and employment. Dilip Buildcon, Sadbhav Engineering Ltd, Ashoka Buildcon Ltd and MEP Infrastructure Developers Ltd are the major beneficiaries of the scheme, the report added.