Gadkari aims to meet bankers to raise funding for highway projects

Transport minister Nitin Gadkari had said that very soon, he will have a meeting with top bankers to successfully solve the concern of lack of funds from banks in order to have an effective construction of highways. In the past few years, it has been noticed that the banks have not shown much interest to lend to road projects. Consequently, this has resulted in the falling of the number of public-private partnership projects.

Today, almost every highway project is being funded by the government. Nitin Gadkari, said, “Very soon I will make a presentation to chairmen of banks and will try to show the positive picture and better opportunities along with the revival of the highways sector.” He further added, “Because of our policy interventions and support to stuck projects, we have saved banks from NPAs of Rs 4 lakh crore.”

He also said that the real big challenges we are facing nowadays is the rising cost of sand plus its inaccessibility in various areas. So, he has instructed most of his officials to go ahead with the erection of bitumen road instead of concrete highways. In fact, he had asked his officials to convey the contractors to start constructing bitumen road, as it would help reduce the project cost by approximately 30%.

Apart from this, expressing concern on the high air pollution levels in Delhi, Gadkari also said that the road ministry will soon have a meeting with Delhi lieutenant governor Anil Baijal, CM Arvind Kejriwal, three mayors of the civic bodies. The meeting would also include, environment minister Harsh Vardhan, urban development minister and officials of Niti Aayog and aim to come up with a proper strategy to limit water and air pollution. He said some of the measures may primarily emphasize upon the usage of pre-cast materials for construction and using vacuum cleaners to eradicate dust from roads in addition to developing lawns.

Source: https://economictimes.indiatimes.com/news/economy/infrastructure/gadkari-to-meet-bankers-on-funding-of-highway-projects/articleshow/64593451.cms