"India gives the highest priority for infrastructure development. Our economy is the fastest growing in the world. NHAI is a flagship organisation, with AAA rating and we have many big projects to offer," Gadkari said at the London Stock Exchange market opening ceremony.
The National Highways Authority of India (NHAI) will put in place a conciliation committee in a month in its bid to resolve highway disputes involving huge sums as claims.
The National Highways Authority of India (NHAI) is looking to sell 50 billion rupees ($775 million) worth of the offshore rupee-denominated bond in order to build expressways, economic corridors, bridges and tunnels.
"The rate of construction of NHs during the last two financial year 2015-16 and 2016-17 was 16 km a day and 22 km per day, respectively," Minister of State for Road Transport and Highways Mansukh Lal Mandavia told the Rajya Sabha in a written reply.
"RInfra has received the Letter of Acceptance (LOA) from the NHAI for the construction of Vikkaravandi to Sethiyahopu section of NH-45 C in Tamil Nadu after it emerged as the lowest bidder for the development of the project on Engineering, Procurement & Construction (EPC) basis," the company said in a statement.
The company will receive Bi-Annual Annuity from NHAI post COD.
The construction period for all three projects is 30 month.
The contract value of the project is Rs 503.10 crore with 24 months of completion period.
The project includes six lane of greenfield proposed Udaipur bypass on hybrid annuity mode, package-IV under NHDP phase V in the state of Rajasthan.
The company has been declared the lowest bidder for the "two hybrid annuity highway projects of NHAI for an aggregate bid project cost of Rs 2,720 crore," PNC Infratech said in a filing to the BSE.
Sabhav Infrastructure Projects has declared L1 for about Rs 1,000 crore project coming in from National Highways Authority of India (NHAI).
The project includes, construction and widening the existing 2-lane Bodhre to Dhule road section of NH-211 to four/six lane configuration in the state of Maharashtra.
The company has signed an MOU with Shrem Infraventure who will invest 49 percent of the equity share capital in the SPV and the company will hold the remaining 51 percent stake.
The project cost is Rs 1071 crore and construction period is 910 days from appointment date.
"The companys subsidiary viz Ashoka Concessions Ltd (ACL) has received letter of award from National Highways Authority of India (NHAI) ... for six laning of Ranastalam to Anandpuram (Visakhapatnam) section of NH 5 (new NH 16) in Andhra Pradesh," Ashoka Buildcon said in a regulatory filing to the BSE.
The government is working on a Smart City-like ‘Grand Challenge’ scheme for states to compete with each other to get Rs 10,000 crore every year in grant for their various road projects, according to an official familiar with the development.
Union Minister Nitin Gadkari today said the National Highways Authority of India (NHAI) should have more powers to fast-track road projects while expressing unhappiness over its overall performance.
Even as the government gives high priority to EPC projects, banks have expressed concerns about aggressive bids by debt-ridden infrastructure companies.
Chief Minister Manohar Lal Khattar said this in his reply to the Calling Attention Notice of Congress MLA from Palwal Karan Singh Dalal during the ongoing assembly session here.
The ministry is looking to undertake an umbrella project of 25,000-km of roads with a Rs 3.5 lakh crore investment in the coming years including expressways and economic corridors.
The Engineering Procurement Construction (EPC) contractor has bagged an order to build a 67-kilometer long road in the Tuljapur to Ausa section of the National Highway - 361.
IRB Infrastructure, a wholly-owned subsidiary of IRB Infrastructure Developers today said it has appointed former NHAI Chief Rajinder Pal Singh as Chairman to the Board.
CNBC-TV18 learns that the National Highways Authority of India (NHAI) does not agree with the constructions targets set by the Roads Minister Nitin Gadkari.