Union Minister of Road Transport and Highways Nitin Gadkari in a recent address said that 60 percent of the projects under the Delhi-Mumbai Expressway has already been awarded.
According to Gadkari, the Delhi-Mumbai Expressway is likely to be completed in the next three years.
The expressway is planned along Delhi-Gurugram-Mewat-Kota-Ratlam-Vadodara-Surat-Mumbai. Gadkari said that land acquisition for the same was completed at a minimum cost of Rs 80 lakh per hectare.
He added that the route was deliberately made around backward areas of Rajasthan, Madhya Pradesh and Maharashtra and roadside alignment through the development of logistic parks and industrial clusters along the highway would raise employment and growth potential of these regions.
Addressing a gathering of investors from Singapore, he invited them to invest in projects in India. The government will implement 22 expressways at an expected investment estimate of Rs 10 lakh crore.
Addressing the issue of project finance Gadkari reiterated the lack of a separate financial arm for road transport and highways. "NHAI has good credibility in the international market. However, the cost of capital in India is high due to interest costs," he said.
He suggested arriving at a financial model of investment in NHAI projects which may be beneficial for both countries.
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