NHAI To Build 5,060-Km Highway Stretches In The Financial Year 2024

1. NHAI To Build 5,060 NHAI To Build 5,060- -Km Highway Stretches In The Financial Year 2024 Km Highway Stretches In The Financial Year 2024 The National Highways Authority of India (NHAI) has set an ambitious target for the current fiscal year to further expand and improve the country's road network. The NHAI intends to build 5,060 kilometers of highway, breaking the previous record of 4,882 kilometers set in the previous year. This demonstrates the organization's dedication to improving India's transportation infrastructure and connectivity. Project Launches By NHAI Project Launches By NHAI The NHAI decided to set an even higher goal this year after observing an impressive 13% increase in the pace of construction in the previous financial year. NHAI also plans to award highway projects totaling 6,036 kilometers, an increase from the 6,003 kilometers awarded the year before. These initiatives demonstrate the NHAI's commitment to accelerating the construction of the national highway system. NHAI successfully launched 167 projects between 2022 and 2023, totaling 5,213 kilometers in length, helping to support the ongoing expansion of the road network. Additionally, there are roughly 55,000 kilometers of roads in various stages of construction, demonstrating a thorough plan to increase accessibility and connectivity throughout the entire nation.

2. Strong Fin Strong Financial Allocation and Private Financing ancial Allocation and Private Financing NHAI's capital expenditure for the development of the nation's highway infrastructure hit a significant milestone of Rs 1.74 trillion in FY23, exceeding the government's allocation of Rs 1.58 trillion, to support these lofty goals. Effective financial management allowed the NHAI to obtain an additional Rs 15,000 crore through project-based financing. The NHAI has budgeted Rs 1.62 trillion for the current year. Additionally, they intend to entice private funding of an additional Rs 15,000 to Rs 20,000 crore through special-purpose vehicles created with the sole purpose of identifying projects. Highway construction initiatives will be able to be carried out with the help of this combined funding strategy. In addition to the conventional engineering, procurement, and construction (EPC) model, NHAI is looking into alternative financing methods for highway construction. These include build-operate- transfer (BOT) and the hybrid annuity model (HAM). In contrast to the BOT model, which calls for private developers to cover construction costs and recoup investments through toll collection, the HAM involves the NHAI making incremental payments to concessionaires. The government wants to revive BOT projects and raise their percentage from less than 5% to 10% of all highway construction, despite the fact that they experienced a slowdown after 2014. This program demonstrates the government's dedication to expanding the available sources of funding and encouraging private sector involvement in infrastructure development. Despite the exploration of alternative financing models, the EPC model is expected to remain the primary mode of highway construction this year, accounting for 70-75% of total awards. This emphasizes the importance of efficient and cost-effective project execution in order to meet the NHAI's ambitious targets. In Conclusion In Conclusion The NHAI has set high goals for highway development, with a focus on enhancing connectivity and transportation infrastructure. The organization's dedication is reflected in large capital expenditures, the exploration of various financing models, and the launch of numerous projects. By leveraging both public and private resources, NHAI aims to achieve substantial progress in expanding and enhancing India's national highway system, promoting economic growth and connectivity across the country. If you are a construction commodities importer, private or government contractor, wishing to Buy Construction Commodities In Bulk (steel, cement) or a construction commodities seller willing to sell bulk construction commodities, then Tradologie.com is the right platform for you. Tradologie is the world’s first digital trade hub through which one can procure multiple construction commodities in bulk such as steel, cement, plywood, etc., directly from manufacturers and brands at the best price and assured qualities. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.