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India's Toll System Unveiled: Powering Roads with Rs.1.3 Trillion
Introduction
India's vast network of highways is not just a testament to connectivity but also to the financial ingenuity that fuels its expansion and maintenance. Ever pondered over the significance of those toll booths dotting the highways? In this article, we unveil the mechanisms behind toll-based financing, the meteoric rise of toll revenues, and the projected financial trajectory fueling India's road infrastructure.The Evolution of India's Toll System
The roots of India's toll system trace back to the visionary initiatives of the 1990s under Prime..
NHAI Considers Extending One Vehicle One FASTag Deadline
The National Highways Authority of India (NHAI) is contemplating an extension of the deadline for the One Vehicle One FASTag initiative until the end of March. This initiative mandates the use of FASTags for toll payments on national highways and was initially set to be enforced strictly from a specified date.
The potential extension reflects a pragmatic approach by NHAI, considering the need for a smoother transition and increased adoption of the FASTag system among vehicle owners. The initiative aims to streamline toll collection processes, reduce traffic congestion at toll plazas, ..
Anand Mahindra targets top position as India overtakes China in roads
Discussing India's road network, business magnate Anand Mahindra expressed surprise at India surpassing China and approaching the United States, which boasts the world's largest road network. The Mahindra Group's chairman is optimistic about Nitin Gadkari, the Union Minister of Road Transport and Highways, aiming for the top spot globally.
In a post on social network X, Mahindra shared data from The World Ranking, revealing that India's road network spans 67 lakh km, slightly behind the US with 68.32 lakh km and ahead of China with 52 lakh km.
Numerous netizens commented on M..
Emirates Group's dnata eyeing M&A deals
The CEO of dnata, part of the Emirates Group, mentioned that they were exploring merger and acquisition (M&A) opportunities in various industries and regions, including South America. He stated that they were in discussions with approximately 40 companies at any given time, with numerous deals nearing finalization. Chief Executive Steve Allen informed Reuters that their focus primarily lay on acquiring small to medium-sized businesses.
He emphasised South America as a significant growth market, highlighting countries like Brazil. Additionally, he remarked on the potential for consolida..
NHAI secures 164 insurance bonds for road projects
The National Highways Authority of India, as stated by the ministry of road transport and highways, announced that it had received 164 insurance surety bonds (ISB) so far. These bonds comprised 20 for performance security and 144 for bid securities.
According to a statement issued after a day-long workshop on the implementation of insurance surety bonds (ISB) for NHAI contracts, NHAI stated, "Around 700 insurance surety bonds valued at around Rs 30 billion have been issued by different insurance companies so far."
The workshop aimed to assess the progress made in implementing I..
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