NHAI to open bidding for road projects worth Rs25,000 crore in Feb
January 21, 2010
National Highway Authority of India (NHAI) is expected to open road projects worth Rs25,000 crore for financial bidding in February.
According to industry sources, NHAI will open financial bidding for around 15 road projects, worth Rs25,000 crore, in the second week of February. These 15 projects include a good mix of both annuity-based as well as toll-based projects. The value of the annuity-based projects could be as high as Rs2,000 crore each. Similarly, each toll-based project value would be about Rs1,000 crore.
All these projects are being planned across the country with no specific concentration in any particular state or region. Many of these projects would involve conversion work of two lanes to four lanes and six lanes. Some of them are also likely to be four-lane roads being converted to six lanes. The qualification procedure has already been completed for these projects.
With just two months left for the end of FY10, more road projects are likely to come up for financial bidding. Major road development companies expect a large number of projects to be awarded before March this year.
Kamal Nath, Union minister for road and transport, plans to achieve a target of 20 km of road development per day by April 2010. The minister has set a target of 7,000 km of road development per year for the road ministry. Moneylife had earlier reported on the minister’s plans to invite bids for road projects worth $20 billion to meet this ambitious road development target.