Government to Woo Investors by Highway Projects worth $93 Billion

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In order to woo the investors, government has introduced projects worth $93 billion. This also includes the flagship road building programme NHDP worth $45 billion.

According to the Ministry of Road Transport and Highways, the investment opportunities are inclusive of models for both Brownfield (monetization) projects and Greenfield (hybrid annuity) projects.

It said that the future opportunities unfold 20,000 kms of NHDP length with a total of $45 billion investment in the upcoming three years.

NHDP, popularly known as the National Highways Building Project is a flagship road building programme of the government which envisions the development of existing National Highways into supreme grade roads in different phases.

This programme is regarded as one of the largest government-led programmes (PPP development) in the world.

The government said that the opportunities comprise of ‘Bharat Mala project for 6,000 kms and worth $12 billion; $15 billion scheme for connectivity to 123 district headquarters and construction project ($8 billion) for 350 bridges/ROBs within two years.

It also includes ‘Char Dham’ connectivity in mountainous terrains for 2,500 kms (worth $8 billion) and a strong network of roads in Border and North-East areas for $5 billion.

Elaborating on fiscal incentives, it said that the project land that is made available to the concessionaires is free from all encumbrances. NHAI is providing capital grant up to 40% of project cost to enhance and upgrade the viability on a case to case basis.

It would also provide 30% relief for the upcoming 5 years and 100% tax exemption for 5 years.

Government measures include golden handshake with developers for 34 projects that amount for $5.5 billion, regulatory clearances to 85 projects with railway over-bridges and 80 stuck projects and fast-track dispute resolution.

At 4.80 million kms, India has the second-largest road network in the world and NHs comprise of 2% of total road network with 65% of freight, 40% of total traffic and 80% of passenger traffic.

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