Mega-highway project opento foreign investors, says PM

BANGALORE, JAN 2: Prime Minister Atal Behari Vajapayee on Saturday said that the Government would seek active participation from the Indian private sector and the foreign investors to invest in the mega-highway project.Launching the National Integrated Highway Project with foundation laying ceremony for six lane carriageway and dedicating the `Four Lane Carriageway’ of Bangalore-Hosur Section at Singasandra, 15 km from the City, Vajapayee said that the Task Force on Infrastructure had finalised a model concession document for facilitating investment by the private sector.

“The Task Force has prepared a framework for ensuring expeditious implementation of the `Golden Quadrilateral’ Mega Highway Project, which would connect Kashmir to Kanyakumari and Sildar to Sourashtra. It has also prepared a blueprint for financing the project so that sufficient resources are available with the National Highway Authority.”

Finances raised for the implementation of this programme, either through cess or other measureswould go to a dedicated fund, Vajapayee said.Stating that land acquisition was an essential part of the road construction and other infrastructure projects, Vajapayee said that innovative methods had to be evolved to ensure reasonable and timely compensations for the acquired land and also subsequent commercialisation of that land.

Highway Authority: Speaking on the occasion, Union Surface Transport Minister Dr M Thambi Durai said the Government would be constituting an `Express Highway Authority’ to construct over 13,000 km of express highways.