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Indian airplane landing on Yamuna Expressway in 2015. Photo Credits: Times of India <ul><li>India’s Ministry of Road Transport and Highways will set up 13 emergency landing airstrips including 11 strips on the its <keyword id="6373156" type="UNKNOWN" weightage="20" keywordseo="National-highways">national highways</keyword>. </li><li>The road runway is aimed at providing faster transport services via air during <keyword id="470423" type="PERSON" weightage="20" keywordseo="natural-calamities">natural calamities</keyword> that block the rail and road connectivity. </li><li>The first such strip will be set up in Gujarat on National Highway number 151.</li></ul>India’s is planning to <a href="https://www.financialexpress.com/infrastructure/roadways/national-highways-to-have-11-emergency-airstrips-here-are-details/1386881/">set up emergency landing</a> airstrips on 11 national highways across the country. The move is aimed at easing efforts during natural calamities and emergency situations. The government has prepared a standard design for the road runway. The airstrips will span over 5-6 kilometres on a 60-metre wide concrete road. They will have parking slots for four aircraft, two gates at either ends of the strip and an Air Traffic Control (ATC) tower. The road runways are aimed at reaching out to the affected areas in the fastest possible time in case of natural calamities such as earthquakes or floods when air connectivity is the only viable option.The government plans to remove the hindrance caused by the electric poles, trees and dividers. According to the country’s Ministry of Road Transport and Highways, the landing airstrips will cost about ₹836.6 million. The project will be managed by the Indian Air Force (IAF), India’s Ministry of Defence and its transport ministry. Mansukh Mandaviya, Minister of State for Road Transport and Highways, <a href="https://www.thehindubusinessline.com/economy/logistics/country-to-have-11-emergency-landing-air-strips-on-national-highways-mandaviya/article25538114.ece">reportedly</a> said that the first such strip will be set up in Gujarat on National Highway number 151 near Khambhaliya of Devbhumi Dwarka district. Other states to have such airstrips include West Bengal, Andhra Pradesh, Tamil Nadu, Jammu &amp; Kashmir, Rajasthan and Odisha. Mandaviya also said that the government has potentially identified 13 roads across seven states that can have emergency landing. Two of these roads fall under state control while the remaining are under the <keyword id="83263" type="ORGANIZATION" weightage="20" keywordseo="National-Highway-Authority-of-India">National Highway Authority of India</keyword> (NHAI), The Hindu <a href="https://www.thehindubusinessline.com/economy/logistics/country-to-have-11-emergency-landing-air-strips-on-national-highways-mandaviya/article25538114.ece">reported</a>. SEE ALSO: <a href="https://www.businessinsider.in/indian-railways-to-build-a-3000-km-safety-fence-to-guard-people-and-prevent-accidents/articleshow/66689250.cms">Indian Railways to build a 3,000 km safety fence to guard people and prevent accidents</a> <a href="https://www.businessinsider.in/indian-conglomerate-tata-is-in-talks-to-buy-out-troubled-carrier-jet-airways-in-a-deal-that-could-create-one-of-the-countrys-largest-airlines/articleshow/66650918.cms">Indian conglomerate Tata is in talks to buy out troubled carrier Jet Airways in a deal that could create one of the country's largest airlines</a> <a href="https://www.businessinsider.in/emirates-airline-profits-are-down-by-86-and-things-may-not-get-better-soon/articleshow/66641941.cms">Emirates Airline profits are down by 86% and things may not get better soon</a>

India plans to build 11 emergency airstrips on its national highways

In order to plant trees along the <keyword id="6373156" type="ORGANIZATION" weightage="100" keywordseo="National-Highways">national highways</keyword>, the road transport and highways ministry is considering setting up a Rs 1,000-crore <keyword id="121068" type="ORGANIZATION" weightage="100" keywordseo="Green-Fund">green fund</keyword>. Officials aware of the matter told ET that the ministry has set a target of making about 10,000 kilometres of existing national highways greener during the financial year. This would be done by planting both fruit-bearing trees and shrubs. 
 
The job of planting these trees and shrubs will be entrusted to over 200 NGOs and rural organisations. The green fund is likely to be set up under the ministry's green highways policy, which was unveiled in 2015. The policy suggested converting all upcoming and existing national highways into green highways. 
 
The policy suggested setting aside 1% of the total highway cost for planting trees in a planned manner. In the current fiscal, road contracts worth at least Rs 1.5 lakh crore will be awarded to these organisations. 
 The ministry is now encouraging all the state governments to follow the same policy for all the existing and upcoming state highways. The funds would be managed by <keyword id="49448" type="ORGANIZATION" weightage="100" keywordseo="nhai">NHAI</keyword>, which would release payments based on recommendations of officials and agencies concerned. 
 
<a href="http://assets.inhabitat.com/wp-content/blogs.dir/1/files/2014/07/824884703_160d581b62_b.jpg">Image source</a>

Green Corridor: National highways to be made greener using a special fund

<keyword id="12760343" type="General" weightage="20" keywordseo="National-Highways-Infra-Trust" source="Orion">National Highways Infra Trust</keyword> (<keyword id="49448" type="General" weightage="20" keywordseo="NHAI" source="Orion">NHAI</keyword> InvIT), the infrastructure investment trust sponsored by <keyword id="83263" type="General" weightage="20" keywordseo="National-Highway-Authority-of-India" source="Orion">National Highway Authority of India</keyword> (NHAI) to support the Central government's <keyword id="11929270" type="General" weightage="20" keywordseo="National-Monetization-Pipeline" source="Orion">National Monetization Pipeline</keyword>, has raised a sum of ₹1,430 crore from domestic and international investors through placement of its units, for part funding its acquisition of three additional road projects from NHAI. The placement of units with institutional investors, witnessed strong demand from both existing investors, who reposed their commitment by participating in the process, as well as new investors. The units have been subscribed by a gamut of institutional investors including Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan Board, State Bank of India, SBI Pension Fund, SBI Mutual Fund, IOCL Employee Provident Fund, L&amp;T Staff Provident Fund, Rajasthan Rajya Vidyut Karamchari Pension Fund, TATA AIG and <keyword id="5050251" type="General" weightage="80" keywordseo="star-union-daiichi-life-insurance" source="Orion">Star Union Daiichi Life Insurance</keyword>. NHAI subscribed to the units through preferential allotment to maintain its unitholding of at least 15 per cent. The units were subscribed through a book build process at Rs 109 per unit, at a premium over floor price of Rs 107.12 per unit. In addition to the above, NHAI InvIT has also filed a prospectus with SEBI for issuance of Non-Convertible Debentures (NCDs) to raise Rs 1,500 crore. The NCDs would carry a coupon of 7.90 per cent payable semi-annually and would be available for subscription by both retail and institutional investors. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/recession-fears-mount-as-uk-gdp-falls-0-3-in-aug/articleshow/94823828.cms">Recession fears mount as UK GDP falls 0.3% in Aug</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-now-a-spam-factory-1-in-2-indian-swamped-with-promotional-messages-report/articleshow/94815568.cms">WhatsApp now a spam factory, 1 in 2 Indian swamped with promotional messages: report</a>

NHAI InvIT raises ₹1,430 crore through follow-on issuance

In a big relief to the bars, pubs, restaurants and hotels in Karnataka, the <keyword id="6354977" type="ORGANIZATION" weightage="100" keywordseo="Supreme-Court">Supreme Court</keyword> has found nothing wrong with the government seeking to de-notify stretches of <keyword id="6373156" type="ORGANIZATION" weightage="100" keywordseo="National-Highways">National Highways</keyword> that pass through city municipal limits. When these highway stretches would be de-notified, these pubs and bars would be able to resume serving alcoholic beverages, which they have stopped since July 1, incurring heavy losses. Supreme Court’s decision to not allow any outlet within a distance of 500 metres from national highways had impacted around 340 pubs and bars. On its contrasting thoughts about the sale of alcohol near highways, the SC has clarified that with the initial order, it had meant to prevent drunken driving on national highways, and that the municipal or district roads were never its target. It added that the government is free to denotify such roads that were once notified but no longer serve as highways.

SC finds nothing wrong in de-notifying highway stretches near Karnataka bars

To construct about 2,000 kilometres of highways in 12 hill states of India, including Arunachal Pradesh, Jammu and Kashmir, Mizoram, Himachal Pradesh and Manipur, the Indian government is preparing a project worth Rs 25,000 crores. 
 
As per officials, most of these projects will be awarded as per the government-funded model of engineering, procurement and construction or 
EPC. However, a few high traction projects connecting religious places in Himachal and J&amp;K will be taken up in accordance with the newly conceived hybrid annuity model. 
 "Projects worth Rs 10,000 crore were awarded in hill states last year, only 10% of the total projects awarded in the country. This year, we're focusing more on hill states as they border with China, Nepal and Pakistan, and are of high strategic importance to India," a senior <keyword id="104973" type="ORGANIZATION" weightage="100" keywordseo="Transport-ministry">transport ministry</keyword> official told ET requesting anonymity. 
 
PMO has also asked the road transport and highways ministry to fasten up road development in these states. 
 
Amongst the hilly highways, about 300 km would be in Arunachal Pradesh, 256 km in Mizoram, 250 km each in Jammu and Kashmir and Himachal Pradesh, 100 km in Manipur and the remaining would be made in Uttarakhand, Assam, Sikkim, Nagaland and West Bengal. The newly constituted <keyword id="6373156" type="ORGANIZATION" weightage="100" keywordseo="National-Highways">National Highways</keyword> and Industrial Development Corporation will be undertaking majority of these highways. 
 
In last fiscal, the ministry has awarded about 10,000 km of highway contracts worth Rs 1 lakh crore, out of which nearly 6,300 km was made at the rate of almost 18 km a day on average. This fiscal, the target is to construct nearly 10,000 km with a pace of 28 km per day on an average. 
 
<a href="https://photos.travelblog.org/Photos/30184/194848/f/1449442-Truck-down-the-road-from-Lachulung-La-0.jpg">Image source</a>

Government will spend Rs 25,000-cr to construct hilly highways in states bordering with China, Nepal and Pakistan

At least 20,000 km of major <keyword id="6373156" type="ORGANIZATION" weightage="100" keywordseo="National-Highways">national highways</keyword> in India will be free from frequent cuts on the medians in the coming four to five years, with barricading for stray animals so that they can be prevented from coming on to the high-speed roads. Fast moving and heavy vehicles will be designated the main carriageways, which would make sure that these vehicles can run seamlessly and at high speed. Also read: <a href="http://www.businessinsider.in/indias-longest-road-tunnel-to-see-the-light-of-day/articleshow/57773446.cms">India's longest road tunnel to see the light of day</a> The project, which falls under the first phase of the ambitious <keyword id="4461929" type="UNKNOWN" weightage="100" keywordseo="bharatmala-scheme">Bharatmala scheme</keyword> will cost around Rs 3.85 lakh crore and would also include expansion of identified stretches to at least four lanes. Also read: <a href="http://www.businessinsider.in/indian-highways-to-have-malls-and-food-courts/articleshow/51305145.cms">Road trips in India will soon be the best way to travel</a> Presently, almost every type vehicles, be it fast-moving trucks or slow-moving cycle-rickshaws, can enter highways, thereby slowing down the speeds and defying the whole purpose of highways that are meant for less accidents. Also read: <a href="http://www.businessinsider.in/heres-how-suvs-have-driven-their-way-into-indian-roads-and-minds/articleshow/58143399.cms">Here’s how SUVs have driven their way into Indian roads and minds</a> The government has now decided to make existing highways more efficient instead of building more expensive <a href="http://www.businessinsider.in/strategy/Green-fund-to-make-national-highways-greener/articleshow/51596590.cms">greenfield roads</a>, and it’s for this purpose that the <a href="http://www.businessinsider.in/politics/too-realistic-nitin-gadkari-wants-to-bring-davos-to-uttarakhand/articleshow/57250266.cms">road transport and highways ministry</a> has sent the proposal to upgrade the identified stretches as "access controlled" ones. Such access controlled roads limit the kind of vehicles that can ply on them. Also read: <a href="http://www.businessinsider.in/Road-Ministry-wants-50-more-funds-in-Budget-allocation-several-plans-in-pipeline/articleshow/55937626.cms">Road Ministry wants 50% more funds in Budget allocation, several plans in pipeline</a>

Highways to be made fit for high-speed vehicles! U-turns and side entries to be barred

New Delhi, The <keyword id="6404450" type="General" weightage="20" keywordseo="ministry-of-road-transport-and-highways" source="Orion">Ministry of Road Transport and Highways</keyword> (MoRTH) is confident of achieving the highways construction target of 13,814 kilometres for the current fiscal, its secretary <keyword id="20078656" type="General" weightage="20" keywordseo="anurag-jain" source="keywords">Anurag Jain</keyword> said on Friday. Addressing a press conference, <keyword id="19950697" type="General" weightage="20" keywordseo="jain" source="keywords">Jain</keyword> further said the total length of national highways in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> increased 60 per cent to 1,46,145 km till December 2023, from 91,287 km in 2014, since the <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> government came into power. "The pace of highway construction in 2023-24 so far has been better than last year, and we are confident of achieving the 13,814-km highway construction target during the current fiscal," he said. Up to December 31, 2023, the ministry has built 6,217 km of national highway, higher than last year's 5,774 km for the same period. According to him, the government is planning to award 10,000 km of national highway projects in 2023-24. Jain also said that the government has asked companies to prepare detailed project reports (DPR) for unawarded identified projects to increase the pace of awarding in 2023-24. He said the total length of four-lanes and above national highways (NHs) increased by 2.5 times to 46,179 km in December 2023 from 18,387 km in 2014. While the total length of high-speed corridors in 2014 was 353 km, which increased to 3,913 km in 2023, the total length of less than 2-lane national highways decreased from 30 per cent (2014) to 10 per cent of national highway network in 2023. Jain also said the road ministry has constructed 6,217 km of national highways up to December in 2023-24. He noted that expenditure on the ministry's highways construction expenditure is expected to increase by 9.4 times to Rs 3.17 lakh crore in 2023 from 2014. Jain said under the <keyword id="20078657" type="General" weightage="20" keywordseo="vehicle-scrapping-policy" source="keywords">Vehicle Scrapping Policy</keyword>, 44 registered vehicle scrapping facilities (RVSFs) are operational in India, while concession and motor vehicle tax was announced by 19 states/ Union Territories. As many as 49,770 vehicles were scrapped till date under the Vehicle Scrapping Policy, he added. Jain said state-owned NHAI has collected Rs 18,450 crore as toll till December in the current financial year.

Confident of achieving 13,814-km highway construction target this fiscal: Road secy

(Photo Source: TravelTriangle) <ul><li>The Delhi-Mumbai expressway which recently got underway is being planned in a way that is expected to cut the tiger passage between India’s Ranthambore National Park (RNP) and Ramgarh Vidyashri Tiger Sanctuary that may disturb the natural surroundings to tigers. </li><li>The expressway, which is planned to be 1,250 km long, as National <keyword id="6354768" type="ORGANIZATION" weightage="20" keywordseo="Highway">Highway</keyword> Authority of India (NHAI) has given its consent to build six lane road from Western Peripheral Expressway (WPE), will now extend up to ring road near DND flyway. </li><li> It will trim the road-distance to Mumbai to 12 hours, which currently takes 24-48 hours. </li><li>The project, which has been approved under the Bharatmala programme, will be completely funded by NHAI and is expected to cost nearly ₹600 billion.</li></ul>The Delhi-Mumbai expressway which recently got underway in December, is being planned in a way that is expected to cut the tiger passage between Ranthambore National Park (RNP) and Ramgarh Vidyashri Tiger Sanctuary, a move that may <a href="https://timesofindia.indiatimes.com/city/delhi/proposed-delhi-mumbai-expressway-faces-rajasthan-tiger-habitat-hurdle/articleshow/67224179.cms">disturb the natural surroundings to tigers</a>. According to experts, this passage should be kept undisturbed so as to allow movement of cats along the corridor, which may be compromised once the expressway is functional. The expressway has now been given greenlight by National Highway Authority of India (NHAI) to build six lane road from Western Peripheral Expressway (WPE) and is <a href="https://timesofindia.indiatimes.com/city/delhi/mumbai-e-way-to-come-into-delhi-manesar-to-get-closer/articleshow/67249427.cms">planned to extend</a> up to ring road near DND flyway. Originally, the expressway is planned to be 1,250 km long, which is aimed to provide a smooth route to commuters that can run vehicles at a speed of 120 km per hour, will be a <a href="https://www.mumbailive.com/en/transport/delhi-mumbai-express-work-on-fast-track-land-acquisition-on-progress-30856">signal-free </a>one. The expressway is expected to be an alternative fast-track route to Manesar in Haryana from from east and South Delhi, easing local traffic congestion. It will <a href="http://v">trim the road-distance</a> to Mumbai to 12 hours, which currently takes 24-48 hours. The six-lane road stretching over 59 kms has been planned to diverge into four sections including the first patch of 7.3 km from DND flyway over river Yamuna. The expressway is expected to bring a huge relief to commuters from residents of National Capital Region. The project will have 13 flyovers, two rail-bridges and nearly 10 minor bridges. The project, which has been approved under the Bharatmala programme, will be completely funded by NHAI and is expected to accept bids by August next year, Times of India reported. Overall, the project is expected to cost nearly <a href="https://www.mumbailive.com/en/transport/delhi-mumbai-express-work-on-fast-track-land-acquisition-on-progress-30856">₹600 billion</a> from Delhi making way to Maharashtra via Haryana , Gujarat, Rajasthan and Madhya Pradesh. See also: <a href="https://www.businessinsider.in/indias-longest-railroad-bridge-has-the-capacity-to-land-fighter-jets-and-battle-tanks/articleshow/67251655.cms">India’s longest railroad bridge has the capacity to land fighter jets and battle tanks</a> <a href="http://v">India plans to build 11 emergency airstrips on its national highways</a> <a href="https://www.businessinsider.in/the-indian-capitals-new-eiffel-tower-is-supposed-to-a-be-structure-that-says-namaste/articleshow/66510509.cms">The Indian capital’s new ‘Eiffel Tower’ is supposed to a be structure that says ‘Namaste’</a>

Delhi-Mumbai expressway: The proposed project may be a threat to tiger species in India

New Delhi, Jan 7 () The government on Tuesday said it has launched a special drive for removal of speed breakers from national highways to ensure hassle free movement of vehicles, specially at toll plazas.
Electronic toll collection through FASTag has been implemented from December 15, 2019 to provide commotion-free movement on highways.
"A special drive has been initiated for removal of all sorts of speed breakers on National Highways. The step comes in a bid to ensure smooth and hassle-free traffic movement, especially at toll plazas. With the effective implementation of FASTag on toll plazas and conversion of cash toll lanes to FASTag lanes, the speed breakers/ rumble strips constructed at toll plazas are being removed with immediate effect for smooth vehicular movement," the Ministry of Road Transport and Highways said in a statement.
Roads of different categories and under different situations are designed for designated speeds at which vehicles can travel with convenience and safety, the statement said.
At certain locations, control of speed becomes necessary to promote orderly traffic movement and improved safety, it said, adding considering the fact that national highways are designed to cater to high speed traffic without any hindrance, the drive to remove speed breakers has been initiated by the National Highway Authority of India (NHAI).
"The speed breakers result in considerable delay, damage to the vehicles and significant discomfort to vehicle occupants and more fuel consumption due to acceleration and deceleration. This initiative will save time, money and facilitate smooth vehicular movement especially to ambulances, elderly and unwell people commuting on National Highways," the statement said.
In the larger context, this will also ensure avoidable wastage of transportation fuel for which country is heavily import-dependent, and will also result in lesser pollution, it added.
The government said positive effects of electronic toll collection (ETC) are being realised by the commuters on toll plazas.
Introduction of speed breakers-free highways is another step in commitment to provide safe, smooth and seamless journey to commuters on national highways, it added. NAM BAL

NHAI launches drive to remove speed breakers from national highways

For the next <a href="http://www.businessinsider.in/searchresult.cms?query=fiscal+year&amp;sortorder=effectivedate">fiscal year</a>, FY17, the <a href="http://www.businessinsider.in/searchresult.cms?query=road+transport+and+highways+ministry+&amp;sortorder=effectivedate">road transport and highways ministry</a> is hoping a budgetary allocation of Rs 86,000 crore so it can fund its <keyword id="2377208" type="UNKNOWN" weightage="100" keywordseo="highway-expansion">highway expansion</keyword> plan in line with the government’s plans to boost public spending and create more construction sector jobs. 
 
The amount that is being sought by the <a href="http://www.businessinsider.in/searchresult.cms?query=finance+ministry+&amp;sortorder=effectivedate">finance ministry</a> is almost Rs 29,000 crore, or about 50%, higher than what the roads ministry had received in the last budget. 
 
According to ministry official, a major part of this grant would be used for the government’s programme to construct greenfield economic corridors mostly as expressways. 
 
Nearly 44 such economic corridors have been planned to connect ports, backward areas and several district headquarters to existing highway networks. 
 
“The target for the next financial year would be to construct around 15,000 km of roads. This year we could do around 9,000 km, which is a little less the target for current fiscal,” the official told ET. 
 The <keyword id="335681" type="ORGANIZATION" weightage="100" keywordseo="Road-Ministry">road ministry</keyword> is looking forward to building to a target of constructing 10,000 km of highways this fiscal. Road construction pace has picked up this year to reach an all-time high of 27 km per day, which the ministry expects could be raised to over 30 km a day in the next couple of months as construction clearances for several new projects have already been received. 
 The official also said the ministry would raise money through <keyword id="87432" type="ORGANIZATION" weightage="100" keywordseo="National-Highways-Authority-of-India">National Highways Authority of India</keyword> (NHAI) bonds as well. However, the amount is yet to be finalised.

Road Ministry wants 50% more funds in Budget allocation, several plans in pipeline

<ul><li>The cost per hectare for land acquired by NHAI has jumped to nearly ₹2.8 crore this year from ₹9 crore just before the latest land act was passed.</li><li>The cost of acquiring land makes up for a quarter of the total capital needed for highway construction.</li><li>Highway construction has more than doubled to over 10,000 kilometres a year in financial year 2019.</li><li>The higher <keyword id="8113905" type="UNKNOWN" weightage="20" keywordseo="cost-of-land">cost of land</keyword> acquisition threatens to slow down new projects as NHAI's debt has piled up.</li></ul>Roads and highways have been among the fastest growing segments in the Indian economy. The rapid pace has also driven up the cost of land acquisition and now, the National Highways Authority of India (NHAI) may step on the brake. The cost per hectare for land acquired by NHAI has jumped to nearly ₹2.8 crore this year from ₹9 crore just before the latest land act was passed four years ago, according to a Kotak Institutional Equities report last week. And as the cost of land increased, the amount of land acquired has fallen anywhere between 15-20% per kilometre (km) of road completed. Meanwhile, toll collection from traffic has grown half as much, at the rate of 10% every year, in the last four years. The higher cost of land, along with lack of funds and risk appetite among lenders, may slow down the pace of road construction this year, according to CARE Ratings. Annual highway construction and expansion had increased from 4,410 km in financial year ending March 2015 to 10,800 km at the end of March 2020. 
 
 
 
 
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 The laws for land acquisition mandate higher compensation to land owner-- market value of land in urban areas and up to double the market value in rural areas. In addition, a 100% solatium (additional payment) has to given to the land owner. Now, land cost makes up for over a quarter of the cost for a highway project. This has led to pile up of debt at NHAI -- to ₹1.78 lakh crore from ₹40,000 crore five years ago. The contingent liabilities-- dues that may arise out of uncertainties-- are twice as much, at about ₹3 lakh crore, according to media reports. This has <a href="https://www.livemint.com/market/mark-to-market/road-works-at-risk-as-pmo-differs-with-nhai-on-path-ahead-1567361360908.html" data-type="tilCustomLink" target="_blank">reportedly</a> led to some discomfort at the highest office in the country, that of Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>. While <keyword id="26680" type="PERSON" weightage="20" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword>, the minister of Roads and Highways, has denied any stress on the NHAI. “There is no problem. The government is giving about ₹90,000 crore ($12.8 billion) as budgetary support to NHAI. That is with us,” he told the media last week. At the bare minimum, when the cost of land escalates, it leaves lesser money on the table for construction. And that's not something private contractors like to hear. SEE ALSO: <a href="https://www.businessinsider.in/union-budget-2019-will-lay-1-25-lakh-kms-of-rural-roads-says-the-finance-minister/articleshow/70086042.cms" data-type="tilCustomLink" target="_blank">India Will lay 125,000 km of rural roads says Finance Minister Nirmala Sitharaman</a>

India's National Highways Authority is paying three times more for land-- and that may slow down new projects

New Delhi, Dec 11 () The government on Wednesday gave its nod to the National Highways Authority of India (NHAI) to set up Infrastructure Investment Trust (InvIT) and monetise national highway projects.
 InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time.
 "The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to the proposal of Ministry of Road Transport and Highways, authorising NHAI to set up InvIT as per InvIT Guidelines issued by SEBI," the Ministry of Road Transport and Highways said in a statement.
 This will enable NHAI to monetise completed national highways that have a toll collection track record of at least one year and NHAI reserves the right to levy toll on the identified highway, the statement said.
 InvIT as an instrument provides greater flexibility to investors and is expected to attract patient capital (for say 20-30 years) to the Indian highway market, as these investors are averse to construction risk and are interested in investment in assets which provide long-term stable returns, it said.
 It will also facilitate retail domestic savings and corpus of special institutions (such as mutual funds, PFRDA, etc.) to be invested in infrastructure sector through InvIT.
 Roads and highways are the lifeline of the economy, connecting remote and far-flung areas and ensuring efficient transportation on regional as well as pan-India basis, it said.
 Development of national highways has a multiplier effect in terms of facilitating trade and enhancing the overall economic development of a region, it added.
 In October 2017, the Centre launched Bharatmala Pariyojana, which is the flagship highway development programme of Government of India for development of 24,800 km of roads for a total investment of Rs 5,35,000 crore.
 Given the magnitude of Bharatmala program, NHAI would need adequate funds to complete the projects within the prescribed timelines, it said.
 "As a part of this exercise, a workable option is to monetise the completed and operational NH assets to unlock their value and offer attractive schemes to private players to invest in construction of national highways," the statement said.
 It stressed that using new and innovative financing vehicles has become inevitable for organisations like NHAI that have limited existing sources of funds.
 The then Finance Minister, in his Budget Speech of year 2018-19, had stated that NHAI may consider organizing its road assets into Special Purpose Vehicles and use innovative monetising structures such as Toll, Operate and Transfer model and Infrastructure Investment Trusts (InvlTs).
 Based on the learning and experience, NHAI has been actively working on setting up an InvIT to monetise its completed and operational national highways projects with the objective of mobilizing additional resources through capital markets.
 NHAI's InvIT will be a trust established by NHAI under the Indian Trust Act, 1882 and Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.
 The InvIT Trust will be formed with an objective of investment, primarily in infrastructure projects (as defined by Ministry of Finance). InvIT may hold assets either directly or through an SPV or a holding. NAM RVK

You Searched For "National highways" and got 12 results

India plans to build 11 emergency airstrips on its national highways

BI India Bureau

Green Corridor: National highways to be made greener using a special fund

BI India Bureau

NHAI InvIT raises ₹1,430 crore through follow-on issuance

IANS

SC finds nothing wrong in de-notifying highway stretches near Karnataka bars

BI India Bureau

Government will spend Rs 25,000-cr to construct hilly highways in states bordering with China, Nepal and Pakistan

BI India Bureau

Highways to be made fit for high-speed vehicles! U-turns and side entries to be barred

BI India Bureau

Confident of achieving 13,814-km highway construction target this fiscal: Road secy

PTI

Delhi-Mumbai expressway: The proposed project may be a threat to tiger species in India

BI India Bureau

NHAI launches drive to remove speed breakers from national highways

PTI

Road Ministry wants 50% more funds in Budget allocation, several plans in pipeline

BI India Bureau

India's National Highways Authority is paying three times more for land-- and that may slow down new projects

Sriram Iyer

Govt gives nod to NHAI to set up InvIT, monetise national highway projects

PTI

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