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Road construction valued at INR 15 lakh cr. planned for next two years; targeting 40 km per day in current fiscal: Gadkari


The Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Mr Nitin Gadkari, has said that the government is giving utmost priority to the development of infrastructure and has set a road construction target valued at Rs 15 lakh crore for the next two years.


He also expressed confidence that the Ministry will achieve the highway construction target of 40 km per day in the current fiscal.

He added that the government is permitting 100% FDI in the road sector.


The Minister emphasised that the National Infrastructure Pipeline 2019-2025 project is a one-of-its-kind and the government is committed to provide world class infra to its citizens and improve the quality of their lives. He highlighted that under the NIP, there are over 7,300 projects to be implemented at a total outlay of Rs 111 lakh crore by 2025. The NIP aims at improving project preparation and attracting investment into infrastructure like highways, railways, ports, airports, mobility, energy, and agriculture and rural industry.


Addressing the Indo–US Partnership Vision Summit through video conferencing, Mr Gadkari stressed that in this new era of bilateral relations, the national interests of India and the United States are converging and there is growing confidence between both the administrations that all outstanding trade issues will be resolved and major trade agreements will be signed soon. He invited US companies to invest in the infrastructure and MSME sectors in India, said a release.

 

Source: Exim News Service: New Delhi, May 3

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