Government constructing 10,000 kms expressways at investment of Rs 4.5 lakh crore: Gadkari

The government is constructing several greenfield expressway projects of 10,000 km across the country for Rs 4.5 lakh crore, said Nitin Gadkari, Minister of Road Transport and Highways. The road network is being set up under the Bharatmala Pariyojana.\

The National Highways Authority of India (NHAI) has generated more than Rs 70,000 crore through several modes of financing. The amount will be used to build highway projects, according to Gadkari.

"The government has conceptualised the Bharatmala Pariyojna of 65,000 km of highway development across the country. The phase 1 road network is 34,800 km... We are constructing 10,000 km of greenfield expressways at a cost of Rs 4.5 lakh crore," he said at an event on 'Management Development Programme on Infrastructure Financing' organised by IIM Kozhikode.

Gadkari said that India's total National Highway (NH) network has increased from 91,000 km in 2014 to about 1.45 lakh km at present.

Focus on building national infrastructure 

Gadkari said that the government has given a massive push to the economy through the national infrastructure pipeline and the PM Gati Shakti National plan.

Delhi-Mumbai expressway 

These programmes will ensure integrated and holistic development in the country, saving cost and time as these new infrastructure projects will connect remote areas in the country.

"Asset monetisation holds the key to infrastructure investment. NHAI has a share of 27 per in the national monetisation pipeline. We are actually pursuing multiple models of monetisation of national highways assets such ToT InVIT and project-based financing," the minister said.

India has the second-largest network of national highways

Earlier last week, Gadkari said that India has the second-largest network of national highways after the US, at 1.45 lakh kilometres. He said that the highway network has increased by 59 per cent in the country in the past nine years of the Modi government.

Gadkari said that toll collections have risen from Rs 4,770 crore to Rs 41,342 crore in FY23. According to him, the government is aiming to increase the toll revenue to Rs 1,30,000 crore by 2020. Using FASTags has reduced the waiting time at toll plazas to 47 seconds, he said. The government is working to reduce it to less than 30 seconds.

NHAI has generated more than Rs 70,000 crore through innovative models of financing. Around Rs 26,000 crore was raised via ToT (toll-operate-transfer) model, Rs 10,000 crore via the NHAI InVIT (National Highways Infra Trust), and Rs 34,000 crore via securitisation via SPVs. 

"In 2014, the waiting time at the toll plazas was 734 seconds, whereas in 2023, this was reduced to 47 seconds. We are hopeful that we will bring it down to 30 seconds soon," he said.