Assam's state government will bear 50 percent of the land cost, provide exemption from royalty on aggregates as well as state portion of GST amounting to nearly Rs 1,270 crore.
The company, in a regulatory filing, said the three highway projects are a part of the statutory process pursuant to the Rs 9,005 crore deal between PNC Infratech, PNC Infra Holdings (a subsidiary of PNC Infratech), and Highways Infrastructure Trust (HIT), an InvIT controlled by KKR & Co Inc, for 12 road assets.
The state-owned road-building authority has an outstanding debt of 3.2 trillion rupees ($38 billion) and is betting on leveraging assets through infrastructure investment trusts, or InvITs, to repay its loans
This innovative system promises to eliminate toll plazas, reduce congestion, and ensure fair toll payments based on the actual distance travelled.
NHAI Executive Engineer Sunil Kumar said the approval has been given for the construction of the road on NH-9, which will be done in four phases.
The land price appreciation in micro markets is expected between 60% to 80% in short term and 20% to 25% as facilities become operational across the national highways.
A parliamentary standing committee report has raised concerns on NHAI's rising debt burden and delayed projects. Resolving these issues are critical to sustaining growth in infrastructure development
Rolling out the electronic toll collection program across India in December, the Ministry of Road Transport and Highways had said that a double toll charge would be collected from the vehicles entering FASTag lanes without the tag.
Deepak Kumar, Chairman, NHAI said the award target for FY18 stands at 8000 kms and they hope to achieve that.
Road Transport & Highways Minister Nitin Gadkari in exclusive interview to CNBC-TV18 explains what one should expect over the next few years as part of highway development programme.
The projects would require one crore professional man days, 3.5 crore skilled labour man days and eight crore semi-skilled labour man days
Officials from Ghaziabad district purchased land from farmers at the circle rate between Rs 1,700 and Rs 1,800 per square meter and sold it to the state government at Rs 7,000 to Rs 8,000 per square meter
CNBC-TV18 learn from sources that National Highway Authority of India (NHAI) board has approved the 'Toll Operate Transfer' (TOT) model for monetising highways.
Confidnet of achieving their project completion and award targets set for FY18, said Deepak Kumar, Chairman, NHAI.
In what can be a boost to Indian IT companies, the National Highways Authority of India (NHAI) is planning large scale digital upgradation and is set to hand out contracts worth Rs 500-700 crores, reports CNBC-TV18's Priya Sheth.
Though private players have not taken the proactive step of creating assets, they have been participating in various government projects -- especially in road, railway and defence space. Over the last two years the speed of road building has picked up from 15.7 km per day in 2013-14 to over 20 km per day now. Nitin Gadkari, Minister for Road Transport and Highways and Shipping, is hoping to ramp it up to 30 km a day.
"At present, we have 96,000 km national highways or 52 lakh road length in the country. As much as 40 percent of the traffic moves on these 2 percent national highways and as a result five lakh accidents take place," the Minister for Road Transport and Highways and Shipping told reporters here.