Wednesday, April 1st, 2020

India to launch the biggest PPP programme in the world: Kamal Nath

Amar Varma New Delhi ..The Union Minister for Road Transport & Highways, Shri Kamal Nath dispelling the apprehensions and fears of the investors said that the land acquisitions would not be a stumbling block for them to invest In India. Speaking at the “Conclave on Enhancing International Cooperation in the Road Sector” organized by FICCI at Singapore today; he said that the issue of land acquisition is not a contentious issue as far as the road sector is concerned but only a managerial issue. He informed the investors from several Asian countries including, Singapore, Malaysia, Indonesia and Thailand, present at the conclave that the NHAI does not put up the bid before 80% of land acquisition has taken place and the remaining 20 % notified. He said that he has taken up this issue with the Chief Ministers of the states and they have shown huge enthusiasm, as road development is vital for any other development, be it industry, trade or agriculture. Underlying the need for a safe, world class and environment friendly road network in the country, he said there would not be any scope to look back as the growth in Indian economy manifested in the purchasing power, growth of vehicular population coupled with growth in traffic would necessitate the growth of the road sector. Mr. Nath said that his ministry would be launching what could be the biggest PPP programme in the world. Giving details, he said that an investment to the tune of 70 billion USD would be required in the road sector in the next 3 years. The private sector participation is expected to be about 40 billion USD and of which 10 billion dollars is expected from the foreign investors. Urging the foreign investors to come forward and avail the vast investment opportunities in the country, he said that the processes would be made investor friendly in the light of the experiences gained in the last 5 years. He said that he has come with an open mind to take suggestions from the investors and would carry out changes required to achieve the targets he has set for his ministry. Shri Brijeshwar Singh, Chairman, NHAI gave a presentation on the future road projects for investment at the conclave. In the next three years, more than 100 projects worth about Rs 98000 crore would be available for bidding as part of the Annual Work Plan (2009-10) of NHAI. The event saw huge participation from the investors belongng to various fields such as investment bankers as well as the companies from the infrastructure sector including construction companies, and those dealing with construction equipment and technology. Later in the day, Mr Nath also delivered an address at an event “The New Government in India: Vision for the next 5 years”, jointly organized by FICCI and Lee Kuan Yew School of Public Policy, Institute of South Asian Studies. He said that India has achieved such a position that it would be a mistake not to engage with India. He said that newer engines driving the global economy would come from smaller countries. Shri Nath said that the biggest challenge for his government would be not only to achieve 9 % growth rate but also to make it inclusive and equitable.

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