Union Minister Nitin GadkariImage Credit source: File Photo : PTI
The National Highways Authority of India (NHAI) is now working on a plan to raise Rs 60,000 crore for the construction of more highways in the country. The biggest thing is that this money will also come from the streets. Actually, NHAI will raise this money by monetizing a total of 2,612 kilometer long highway roads in the country.
It has been informed by NHAI that it has identified 46 operational highways which can be monetised. It is expected to get Rs 60,000 crore from this monetization in the current financial year 2023-24. Earlier this plan was to raise Rs 45,000 crore by monetizing 30 highways.
Read this also: Go First flights will remain cancelled, flights will not operate till May 30
This good news from NHAI has reached the people on the occasion of the birthday of Union Road Transport and Highways Minister Nitin Gadkari. During the tenure of the Modi government, his role in improving the country’s infrastructure is often discussed on many forums. Nitin Jairam Gadkari turned 66 on 27 May. Prime Minister Narendra Modi has also congratulated him.
Respected Narendra Bhai, thank you from the bottom of my heart for your wishes. I will continue to make efforts for the development of the country under your leadership.@narendramodi https://t.co/igrhKQGuIy
— Nitin Gadkari (@nitin_gadkari) May 27, 2023
This is the complete plan of NHAI
The National Highway Authority of India (NHAI) had planned to monetize 14 highway stretches of 1750 km in the financial year 2022-23. But then Rs 13,511 crore could be collected from only 6 highways of 558 km. This time NHAI will collect it through ‘Toll Operate Transfer’ (TOT) and National Highways Infra Trust. National Highways Infra Trust is an InvIT created by NHAI.
See also: Germany drowned, now America’s number will be taken after June 5
Apart from this, NHAI also raises money from the option of project based financing. It has done the same for the recently completed Delhi-Mumbai Expressway. It has become necessary for NHAI to monetize the highways, because after 2022-23, NHAI’s dependence on the government is increasing.