Cabinet approves funds for Bharatmala projects

The Cabinet has approved the investment proposal for the Bharatmala programme for development and upgradation of 34,800 km of National Highways. There are six components under this approved programme apart from balance works under the ongoing National Highways Development Project (NHDP). This is to be implemented over a period of five years from 2017-18 to 2021-22 with an approved outlay of Rs 535,000 crore. In addition, projects spanning 48,877 km under other ongoing schemes like NH(O), Special Accelerated Road Development Programme in North East (SARDP-NE), Externally Aided Projects (EAP) and Roads Projects in left Wing Extremism Affected Areas (LWE) are also to be implemented during the same period. This has an approved outlay of Rs 157,324 crore. In 2017-18, NHAI has raised Rs 8,500 crore from LIC and Rs 10,000 crore from EPFO through taxable bonds. In addition, NHAI is in the process of raising funds through monetisation of operational National Highway assets through the Cabinet approved Toll-Operate-Transfer (TOT) model. The first bundle of TOT projects comprising nine project stretches with aggregate length of around 680 km has already been bid out.