US$1.087bn (Rs 5,069 crore) worth of highway projects will be implemented by the National Highways Authority of India, under new concessionary agreements.

The projects will be implemented on a build-operate-transfer (toll) basis and will also be eligible to access credit from banks. The India Infrastructure Finance Company Limited (IIFCL) will refinance part of the credit.

Road contractors will also be able to levy toll charges according to the new toll policy finalised in 2008, which allows for higher toll charges for bridges and structures.

The agreement includes US$235m development of 110.5km of the Pune-Solapur section of NH-9, 93km Kishangarh-Beawar section of NH-8 at about US$168m, and 133km Gujarat/Maharashtra Border-Surat-Hazira Port’s US$320m road widening project.

In addition, the US$285m construction of the 19km, new four-lane elevated road, from Chennai Port to Maduravoyal (NH-4) has also been agreed upon.