Transport minister Nitin Gadkari on Thursday said he will soon meet top bankers to resolve the issue of drying up of funds from banks for construction of highways.
In last few years, banks have been reluctant to lend to road projects, as a result of which the number of public-private partnership projects has fallen. Most highways are now being funded by the government. “I’ll soon make a presentation to chairmen of banks to tell them about the revival that has taken place in highways sector,” Gadkari said. “Because of our policy interventions and support to stuck projects, we have saved banks from NPAs of Rs 4 lakh crore,” he said.
The minister also said that due to rising cost of sand and its unavailability in several areas, he has instructed his officials to go ahead with the construction of bitumen road instead of concrete highways. “I have asked my officials to tell the contractors that they can construct bitumen road and reduce project cost by 30%.” Read More
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