Development of national highways under proposed phase 1 of ‘Bharatmala Pariyojna’ and other schemes would require funds of Rs 6.92 lakh crore up to 2022, Parliament was informed on Monday. Of the total expenditure, 20 per cent will be met through private investment and expected monetisation, Minister of State for Road, Transport and Highways, Mansukh Lal Mandavia informed the Rajya Sabha.
“The estimated fund requirement for development of national highways (NHs)/roads under various schemes and proposed phase 1 of Bharatmala Pariyojna is about Rs 6,92,324 crore up to financial year 2021-22,” Mandavia said in a written reply. The umbrella programme for roads – Bharatmala – is expected to see construction of 20,000 km of highways in the first phase, the government had said earlier.
Mandavia said the source of funds include gross budgetary support (GBS), including NH share of central road fund (CRF) cells, toll remittance, expected monetisation of NHs through toll operate transfer (TOT) route, market borrowings by National Highways Authority of India and private sector investment. “The estimated share of private sector investment and expected monetisation through TOT route during this period are about Rs 1,06,000 crore and about Rs 34,000 crore respectively; total of these form about 20.22 per cent of total estimated fund requirement of Rs 6,92,324 crore,” the minister said.
He said the Public Investment Board (PIB) in its meeting held on June 16 has recommended the proposal for phase 1 of Bharatmala Pariyojna for consideration of Cabinet Committee on Economic Affairs (CCEA) for investment approval. Earlier, the government has said that several investors, including Canadian Pension Fund, Abu Dhabi Investment Fund and some from the US, Europe and Singapore, have shown interest in buying various projects.
As many as 10 public-funded national highway projects, out of a basket of 75, have been identified by the government for monetisation.