India to launch more than 100 road projects in 2016
The Indian Government is planning to launch more than 100 road projects under the public-private partnership (PPP) model in 2016.
According to union minister for road transport and highways Nitin Gadkari, the projects will be under a hybrid model, which is a newly conceived concept.
Addressing the India PPP summit organised by industry body FICCI, the minister was quoted by The Economic Times as saying: "We will give projects on a platter with land acquisition and environment clearances to the investors.
"It will be a lucrative proposition for them."
The minister has not stated how much investment would be required for the projects, but has added that the government will bear 40% of the project costs while the remaining 60% will come from private companies.
Projects worth Rs115bn ($1.76bn) have already been awarded.
He assured investors that all concerns regarding the PPP model have been addressed and 44 projects out of a total 283 projects have been terminated.
The union government intends to call for tenders for about 18 projects by the end of the year.
During India's 12th Plan, Prime Minister Narendra Modi's government plans to attract private investments worth $750bn ($11.5bn) in the roads sector.
In order to do so, there will be a need for an innovative approach as investor interest has reportedly decreased since 2010 due to problems over acquiring lands, securing approvals and mounting public resistance to toll collection.
Prime minister Narendra Modi will soon inaugurate the work on the Rs70bn ($1bn) eastern highway project, which aims to reduce congestion in Delhi.
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