India's road ministry has ended the year on a high as it has awarded 62 projects having a length of 7,957 kilo metres in the current fiscal (2012-13) ,57% higher than the previous year.
It is all set to achieve its earlier announced target of building 20 km of road per day by 2013-14,as it has completed construction of 2,250 km road in 2011-12, in comparison to 1,784 km in the previous year.
In the year 2011-12, NHAI (National Highways Authority of India) has awarded 49 projects of 6,491km & Ministry awarded 13 projects for 1,466 km through state agencies.
In all, 62 projects of 7,400 km have already been awarded as against the set target of 7,300 km. Some of the projects awarded have offered premium to the government which is likely to result in additional revenue generation of Rs. 30,400 crore during the concession period.
Mr. CP Joshi,Union Minister of Road,Transport & Highways said, ''We want to accelerate this achievement further in 2012-13. We are confident of achieving the target of 8,800 km.Bids for 1,500 kms are either under evaluation or due in April 2012."
NHAI received a phenomenal response with road project developers providing premium on seven projects that would earn Rs 6,451 crore whereas one project sought a premium. Companies like Sadbhav Engineering, L&T and IVRCL were amongst some of the successful bidders for eight projects entailing highway development of 1,144 kms having an estimated cost of Rs. 11,500 crore.
IVRCL will provide the highest premium at Rs. 145 crore.The bids are far better than what we had anticipated. Even the single project which asked for grant, it was much lesser than our estimates. These companies have opted to provide premium to the government,instead of taking viability gap funding.
It is all set to achieve its earlier announced target of building 20 km of road per day by 2013-14,as it has completed construction of 2,250 km road in 2011-12, in comparison to 1,784 km in the previous year.
In the year 2011-12, NHAI (National Highways Authority of India) has awarded 49 projects of 6,491km & Ministry awarded 13 projects for 1,466 km through state agencies.
In all, 62 projects of 7,400 km have already been awarded as against the set target of 7,300 km. Some of the projects awarded have offered premium to the government which is likely to result in additional revenue generation of Rs. 30,400 crore during the concession period.
Mr. CP Joshi,Union Minister of Road,Transport & Highways said, ''We want to accelerate this achievement further in 2012-13. We are confident of achieving the target of 8,800 km.Bids for 1,500 kms are either under evaluation or due in April 2012."
NHAI received a phenomenal response with road project developers providing premium on seven projects that would earn Rs 6,451 crore whereas one project sought a premium. Companies like Sadbhav Engineering, L&T and IVRCL were amongst some of the successful bidders for eight projects entailing highway development of 1,144 kms having an estimated cost of Rs. 11,500 crore.
IVRCL will provide the highest premium at Rs. 145 crore.The bids are far better than what we had anticipated. Even the single project which asked for grant, it was much lesser than our estimates. These companies have opted to provide premium to the government,instead of taking viability gap funding.
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