The government on Friday gave its approval for clearance of 8 highway projects worth 6000 crores.The total length of the project is about 350 kms.
Key features of the project
- 2 Project has to be based on Hybrid-annuity model and remaining six under EPC method
- The major benefiters of the highway project are Maharastra, Madhya Pradesh, Punjab ,Rajasthan and Himachal Pradesh
- The project does not require cabinet approval as the highway ministry can sanction itself for projects less than 1000 crores
- Under Hybrid annuity model, 40% will be sanctioned by the government in initial stages and balance 60% as installments
Points to note
- Urban development minister- Nitin Gadkari
- Total road projects sanctioned this year for 10000kms
- Government has planned to increase highway length from 96000km to 200000 kms
Keys
- Minister of Road Transport and Highways –Â Nitin Gadkari
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