Road Transport and
Highways Minister Nitin Gadkari said that the National Highways Authority of
India (NHAI) was not under financial strain while refuting reports in the media
that the Prime Minister’s Office was not happy with the NHAI’s splurging spree.
“The media’s reports on the NHAI’s stressed finances are untrue,” he
is no problem for money says Gadkari
that his track record showed that he had always been successful in building
roads. “I have always been able to raise money for project, be it Mumbai-Pune
Expressway or Bandra-Worli Sealink. We have very healthy internal rates of
return; there is no problem for money,” he said on the sidelines of an event
held to discuss the completion of 100 days of the Narendra Modi government’s
minister said that revenues from NHAI roads were on the rise and traffic
density was expected to increase. “Even in times of a slowdown, our traffic
density expectations are rising. The finance minister has asked me to keep
awarding road projects,” he said.
will soon be making a list of 450 projects of NHAI
Mr.Gadkari said he
will soon be making a list of 450 projects of NHAI and tabulating the costs of
land acquisition, construction and whether it has the necessary regulatory approvals
and move ahead only when all the points have green ticks.
more need for budgetary support to build roads.
We have enough
money coming from foreign pension funds, private equity funds who want to buy
roads (under the toll-operate-transfer model),” Gadkari said adding that
there was no more need for budgetary support to build roads.
Projects worth Rs 5 lakh crore by
Minister affirmed that NHAI will be announcing projects worth Rs 5 lakh crore
by the end of the year. The projects will be executed under all the models,
including toll-operate-transfer, engineering, procurement construction and also
NHAI is targeting
to build 4,500 km of roads in FY20 against 3,900 km in the year-ago