Gadkari, Auto News, ET Auto


New Delhi: The National Highways Authority of India (NHAI) plans to increase Rs 1 lakh crore through monetization of toll-operate-transfer (TOT) highways over the next five years, the minister said on Friday of the Nitin Gadkari Union. The Minister of Road Transport, Highways and MSMEs also said that electronic toll collection is planned by GPS for the exact distance traveled and not by toll stations.

“NHAI intends to increase Rs 1 lakh crore through the TOT asset monetization plan over the next five years. We are getting a great response and have a lot of new models and pension funds besides foreign investors,” Gadkari said during his attendance at the 25th Wharton Economic Forum in India.

NHAI is authorized to monetize state-funded national road projects, which are operational and collect tolls for at least one year after commercial operation, through the TOT model on a case-by-case basis.

The Minister said: “The collection of tolls by GPS will be done in which the image of the car will be captured and the toll will be subtracted from the user based on the stretch of road used by a particular vehicle.”

He said that after electronic toll collection through FASTag, there was an increase in toll revenue. Collection via FASTag, which currently stands at nearly 75 percent, will increase to around 98 percent within a month, Gadkari added.

Gadkari said his ministry aims to increase the road construction target to 40 km per day by March and added that the NHAI aims to build 60,000 km of highways over the next five years, including 2,500 km of expressways.

These include 9,000 km of economic corridors and 2,000 km each of strategic border and coastal roads. In addition to these, 100 tourist destinations and 45 cities would be linked by highways.

The minister said that despite the challenges posed by COVID-19, highway construction is in full swing.

Welcoming investors to invest in India’s infrastructure sector, the minister said a red carpet awaits them and ensures them high returns compared to other places in the world.

The minister said 35 multimodal logistics parks are on the anvil as the vehicle scrapping policy is in the final stages, and expressed confidence that India will soon be the premier vehicle manufacturing hub.

He said the government’s goal is to make India a hub for green fuel in order to reduce the huge annual imports of crude by Rs 8 lakh crore and the plan is also to push the economy up from there. ethanol of Rs 22,000 crore currently at Rs 2 lakh crore. In addition, the focus was also on public transport powered by electricity, he said.

He said the Rs 12,000 crore Char Dham project will be completed by this year while a town like Davos is also planned near Zojila.

The minister said his ministry had finalized 2,478 projects worth Rs 20.33 lakh crore under the National Infrastructure Pipeline.

He said 22 green highways were under construction by his ministry, including the Delhi-Mumbai Rs 1-lakh crore highway.

On MSMEs, the minister said the goal is to create 5 crore of jobs over the next five years, in addition to the 11 crore of jobs already created and to increase exports to 60 percent from 48 percent. percent currently.

“A red carpet is ready for investors to bring in technology and investment,” he said.

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