National Highways Authority of India to award $14.9bn worth of projects
The National Highways Authority of India (NHAI) is planning to build 6,500km of highways in the current fiscal year, and award projects worth INR1,000bn ($14.9bn).
NHAI chairman Raghav Chandra was quoted by The Economic Times as saying: "We should be able to award projects for about 6,500km and costing overall package size for about rupees one hundred thousand crore (INR1000bn)."
The Indian government is planning to accelerate road construction works.
The roads ministry has urged its staff to resolve disputes that hinder the progress of road construction works. It has also called upon developers to shift cases under the new Arbitration Act.
Chandra added: "The government has assured us full support on that count.
"NHAI will be making payments for arbitral awards and likewise all other organisations for their respective place and we have certain operating procedures so that these can go through seamlessly and expeditiously."
In August, the Union Cabinet gave green signal to release 75% of the money which is in the dispute against bank guarantee to contractors.
Last month, NHAI awarded a contract to infrastructure development company Dilip Buildcon to expand the Lucknow-Sultanpur section of National Highway (NH) 56 in the state of Uttar Pradesh.In March, the Union Ministry of Road Transport and Highways announced its intention to set up NHAI International to take up road development projects in various countries.