Cabinet clears ₹22,864-cr Northeast highway project

THE GOVERNMENT ON Wednesday approved ₹22,864 crore greenfield high speed corridor that will connect Shillong in Meghalaya to Silchar in Assam.

- FE BUREAU

THE NATIONAL HIGHWAYS Authority of India (NHAI) on Wednesday awarded its second Build Operate Transfer (BOT) toll project in recent times, signing an agreement for development of 88 km six lane access control Agra-Gwalior Expressway.

The project has been awarded to G R Infraprojects and as per the amended Model Concession Agreement (MCA), the NHAI will provide ₹820 crore to the concessionaire which will be linked to the progress of the project.

The total cost of the project is ₹4,613 crore, including the cost of land acquisition.

The move is significant given the dearth of pure-play private risk capital in highway projects for long years, which resulted in increased reliance on Budget funds to keep the pace of highway construction.