India, Aug. 12 -- The Government of India has issued a release:
Government in Ministry of Road Transport and Highways is primarily responsible for development and maintenance of National Highways (NHs). The Government has inter-alia decided to focus on development of Access controlled National High Speed Corridors (HSCs) / Expressways, development of ring road / bypasses of cities with population of more than One Lakh with priority on those cities which have population of more than Five Lakh, development of coastal roads, connectivity of ports as per the prioritization of Ministry of Shipping, Ports and Waterways, connectivity of airports as per the prioritization of Ministry of Civil Aviation and connectivity to Industrial nodes as per the priority of National Industrial Corridor Development Corporation (NICDC) for improving the logistics efficiency of the country. These steps are directed towards broadening investment opportunities in highway infrastructure.
To attract more private players and make investment opportunities more attractive, the Government has taken several initiatives like reforms in Model Concession Agreement for Public Private Partnership (PPP) Projects, reforms in model contracts for monetization of NHs through Toll Operate and Transfer (TOT) basis, introduction of Public InvIT to widen investment scope, Stakeholder Conferences held with concessionaires, financiers, and major government bodies to showcase investment opportunities to private players as well as understand & address investors' concerns etc.
Major amendments in the standard bidding and concession documents for Build-Operate-Transfer (BOT) projects on NHs include: -
This information was given by Union Minister of Road Transport & Highways, Shri Nitin Gadkari in a written reply in the Rajya Sabha today.
Disclaimer: Curated by HT Syndication.
