Road projects of ₹5 lakh-cr reach contract award stage
In a major booster to the ailing construction equipment and commercial vehicle sector, Union road transport minister Nitin Gadkari has said that the government is rolling out mega road construction projects worth ₹5 lakh crore in the next three months. The road ministry is actively working to upgrade the road network, which will accelerate the demand for construction equipment like excavators and heavy trucks in the coming months. The construction activity in the road sector has seen 70-80 percent growth in recent times and the government is aiming to continue maintaining this growth momentum. The ministry has reached the last leg of contract award as about 80 percent of land acquisition has already been carried out to fast track project delivery and contract awarding. The upcoming projects will also offer opportunities for employment generation. Gadkari has requested every department in the road ministry to present a concrete plan for speeding up the contract award process.
📅Published on:
13 September 2019
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