Construction Infrastructure
Centre targets road work worth Rs 15 lakh crore in two years
The Centre is giving utmost priority to the development of infrastructure and has set a target of road construction worth Rs 15 lakh crore in the next two years. Union Road Transport and Highways Minister Nitin Gadkari made the announcement on Friday while addressing the Indo-US Partnership Vision Summit through video conferencing.
The Minister was confident that his ministry will achieve target of 40 kilometres per day of highways construction in current fiscal, saying “the government is permitting 100 per FDI (Foreign Direct Investment) in road sector”. In India, Gadkari said, projects like National Infrastructure Pipeline (NIP) for 2019-2025 is the first-of-its-kind and the government is committed to provide world class infra to its citizens and improving quality of their lives. He said that under the NIP, there are over 7,300 projects to be implemented at a total outlay of Rs 111 lakh crore by year 2025 and that the project aims at improving project preparation, and attract investment into infrastructure like highways, railways, ports, airports, mobility, energy and agriculture and rural industry.
News Source : Construction Week Online
Construction Infrastructure
The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra
Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has received LoA for a project involving six laning of Kagal-Satara section of NH-48 (old NH4) in Maharashtra. The project will be executed under the Bharatmala Pariyojana at ₹2,008.47 crores. The construction period for the 67-km long road project is expected to be 2 years from the date of appointment and the concession period will be 18 years.
With this project award, Adani’s road portfolio will have total 14 projects with more than 5,000 lane km with asset value exceeding ₹41,000 crore spread across India.
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