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Nitin Gadkari, Union Minister of Road Transport & Highways issued a statement that the length of National Highways has gone up by 50% over the last seven years. The Ministry accomplished a record-breaking milestone by constructing 37 kilometres highways per day in year 2020-21.
"Over the last 7 years, length of national highways has gone up by 50% from 91,287 km (as of April 2014) to 1,37,625 km (as on March 20, 2021)," said Gadkari while talking about the major achievements.
"Total budgetary outlay increased by 5.5 times, from ₹33, 414 crore in Financial Year 2015 to ₹1,83,101 crore in Financial Year 2022. The sanctioned amount has increased by 126% in the financial year 2021 over the financial year 2020 despite Covid-19 related impact. Sanctioned length in kilometres has also increased by 9% in the financial year 2021 over the financial year 2020," he said while addressing a gathering.The Union Minister said average annual project award (annual average award length) during the financial year 2015 to the financial year 2021 has increased by 85% compared to FY 2010 to FY 2014.
Singapore Based Cube Highways Secures Deal of Ghaziabad Aligarh Expressway For Up to ₹1,600 Cr Enterprise Value
Pan India project worth ₹7,000 crore Bharat Road Network Ltd. (BRNL) along with its partners signed an agreement with Singapore based Cube Highways for the complete transfer of ownership in an operating toll road project in Uttar Pradesh. The revenue generated will help achieve reduction in debt and opportunities to capitalize on growth in the highway sector. BRNL currently holds 39 per cent stakes in this project. The transaction is done at an enterprise value of up to ₹1,600 crore "We continue to explore opportunities for value creation through our portfolio realignment. We remain focused towards optimizing value through such strategic exits and are equally committed to raise resources to capitalize on the current and upcoming primary and secondary market opportunities in the highway sector," Bajrang Kumar Choudhary, Managing Director, BRNL said.
Larsen & Toubro’s construction arm secures multiple orders, collectively in the range ₹ 1,000 crore - ₹ 2,500 crore as per statement issued by the company. These orders include heavy civil infrastructure, water and effluent treatment, and building and factories projects. L&T has won EPC job for constructing a new four-lane bridge parallel to the existing Vikramshila Setu, and the approaches across river Ganga on the newly declared NH-131B at Bhagalpur in Bihar. Scheduled time for completion of the project is 48 months.
Municipal Corporation of Amritsar has sanctioned the company with an EPC work of a bulk water supply system in the city. The project is part of Punjab Municipal Services Improvement Project (PMSIP), funded by International Bank for Reconstruction and Development (IBRD). “The project aims to migrate from rapidly depleting and contaminated decentralized ground water sources to centralized surface water sources to supply potable water to the city, to achieve sustainability,” L&T said.
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