Stalled Infrastructure Projects to start soon with New projects approved: Gadkari
Union Minister of Road, Transport and Highways Nitin Gadkari is all set to give a better infrastructure to the nation and has recently cleared stalled highway projects worth Rs 40,000 crore out of the Rs 75,000 crore of stalled projects. The government is now set to sort out issues of the remaining beleaguered projects relating to pending schemes involving an expenditure of Rs 35,000 crore over the next 8-10 days.
Gadkari also mentioned that some 265 road and national highway projects worth Rs 75,000 crore were stalled due to reasons like land acquisition issues, delays in clearances from ministries like the Railways, Defence and Environment and Forests and had turned into Non-performing Assets (NPA) for the banks which had financed them. Several companies executing those projects were going for Corporate Debt Restructuring.
While addressing a function to commemorate the 142nd foundation day of the Mumbai Port Trust, Gadkari mentioned that his ministry has drawn up a plan to augment infrastructure in the megapolis. He also announced about the setting up of a committee under the former chairperson of the Mumbai Port Trust Rani Jadhav to suggest ways for optimum use of the 1,800 acres of land in possession of the trust.
Gadkari is not only working towards clearing the bottlenecks for the stalled projects, his ministry is also looking at constructing new infrastructure. In order to give a boost to the infrastructure sector, the transport ministry had last Monday approved worth over Rs 40,000 crore of highway projects to be implemented over the next couple of years.
Source- The Financial Express
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