NHAI to float 6 mega projects
In a move to attract global infrastructure majors in the highway projects, National Highways Authority of India (NHAI) will soon float six ultra mega projects, each of 600 km or more. Union road, transport and highways minister Kamal Nath said this while talking to reporters on the sidelines of Indian Economic Forum in the capital. The minister had earlier indicated that these mega projects will be of at least $1 billion each and be developed across India. The highway regulator has already identified stretches. Officials maintained this plan goes well with the minister's vision of ‘leap frog’ approach to bring visible difference in the highway development sector. Addressing industry leaders at the summit, Nath also said that several foreign firms have shown interest in investing in the highways sector in India and the irritants highlighted by them are being addressed. He also said that of the $20 billion investment required in the sector over the next one year, about 60% would come from the private sector.