Highway projects above Rs 50 crore will be funded by the Government
The entire highways project that costs more than Rs 50 crore will now be taken under the engineering procurement and the construction (EPC) mode with some slew of steps that are being taken to get a fresh capital in the road sector of the government said on Thursday. The highway project will be completed in a faster time post the project is taken under the engineering procurement and the construction mode.
The ministry had decided to take all the projects costing Rs 50 crore on the EPC mode. The minister of state for the road transport and highways Krishanpal Gurjar stated it in Lok Sabha while giving a reply to the ministers. Unlike the Public Private Partnership (PPP) model where the private sector had to fund the road building the EPC model, the government funds in a highway with private firm for designing and building the road.
Gurjar stated that the government has recently taken a number of steps in order to boost the investor sentiments and encourage more investments in the road sector due to expedite the projects. Hopefully the project will be taken forward quickly and completed fast.
Source: The Mint
