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Nitin Gadkari Urges Industry To take advantage On New Expressway Projects

Union minister Nitin Gadkari on Wednesday urged industry players to take advantage on the large potential that 22 upcoming express highways hold within the areas of other fuel, electric highway and charging stations. The Road Transport, Highways, and MSME Minister said that projects especially about Rs 1 lakh crore DelhiMumbai express highway offers a moment right of thanks to players curious about fixing LNG stations, electric charging stations or petrol pumps.

Addressing a conference on 'Future Fuels for Transportation' by FICCI, the minister said plans were afoot to line up 2,000 petrol pumps, including LNG. We are building 22 new express highways including Delhi-Mumbai Express Highway. Work on seven out of twenty-two projects have started and these have huge potential for the industry. If players want to return forward, we will offer the proper of way especially on Delhi-Mumbai Express Highway which we decide to complete within three years," the minister said.

Gadkari said plans are on for an electrical highway stretch on Delhi-Mumbai Expressway and therefore the land acquisition for over Rs 1 lakh crore expressway project has been completed. He said he are going to be visiting Sweden next month to ascertain E-Highways and welcomed players for investments to convert highways into e-highways.

He also said: "The RBI has assured us that they're going to allow us to require infrastructure loans for 30 years. So if a bankable project is for 30 years, the loan amount are going to be raised within 13-18 years. there'll be two years moratorium period after completion of the project. When after three years, toll collection starts then we'll open an escrow account. the precise amount are going to be deposited during this escrow account."

The minister said at the present NHAI has 480 such secure, bankable projects and five more banks are willing to offer loans because the SBI gave. "Depending upon traffic, we'll keep depositing money within the escrow account, he said. He said NHAI 's annual income for the present fiscal are going to be Rs 40,000 crore and it'll reach Rs 1 lakh crore within the coming years.

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