Govt sets two year road construction target worth Rs 15 lakh cr
Minister of Road Transport and Highways Nitin Gadkari, while addressing the India-US partnership vision summit, said that the government has set a road construction target worth Rs 15 lakh crore for the next two years.
Gadkari also said India is set to achieve the target of 40 km per day of highway construction in the current financial year.
The minister said that the government is permitting 100% foreign direct investment (FDI) in the road sector.
According to Gadkari, under the national infrastructure pipeline (NIP), there are over 7,300 projects to be implemented at a total cost of Rs 111 lakh crore by the year 2025.
He said that the NIP aims to improve project preparation and attract investment into infrastructures like highways, railways, ports, airports, mobility, energy and agriculture and rural industry.
During his address, Gadkari also urged the US companies to invest in infrastructure and micro, small and medium sectors in India.
The Ministry of Road Transport and Highways (MoRTH) also achieved record construction of highways at 13,298 km in 2020-21, despite Covid-induced disruptions. This indicates a construction speed of around 37 km per day. MoRTH has now set a target of over 40 km a day in the current financial year.