The three projects are construction of 4-lane highway from Gazipur-Ballia UP/Bihar, up-gradation of existing road from 2-lane to 4–lane in UP, and Moradabad & Kashipur bypasses in UP and Uttarakhand
Network Planning Group (NPG) constituted under the institutional framework of ‘PM GatiShakti’ has recommended three important road connectivity projects — construction of 4-lane highway from Gazipur-Ballia-UP/Bihar state border, improvement and up-gradation of existing road from 2-Lane to 4–lane in Uttar Pradesh and Moradabad and Kashipur bypasses in UP and Uttarakhand.
All 3 projects are important for the improvement and upgradation of the roadways with a view of multimodality, easier commute, and land acquisition.
As a part of the proposal in the 33rd meeting of the NPG, the 3 critical agendas were discussed and recommendations were made.
Construction of 4-lane highway from Gazipur-Ballia to UP/Bihar state border
This will improve freight flow, and interstate multimodal connectivity in Uttar Pradesh. The proposal was for a 4-lane highway (greenfield) to connect the economic centers for (Lucknow, Varanasi, Azamgarh, and Mau cities). This will ensure shortest connectivity from south Bihar to Delhi. At Buxer a bridge on river Ganga is being constructed with spur which will enhance connectivity of South Bihar to Delhi. The project will reduce travel time between Lucknow–Patna by 3.5 km/hr for seamless traffic, and interstate connectivity. The highway will serve the Lucknow defense corridor at two points (Banaras and Pruvanchal expressway).
Improvement and up-gradation of existing road from 2-lane to 4–lane in Uttar Pradesh
The proposal was to make 2-lane roads into 4-lanes for upgradation and improvement of the roads. The proposal is for a 4–lane bypass Palia–Shahjahanpur–Hardoi–Lucknow. This project is a part of strategic border roads of Indo–Nepal border road project (INBRP) of Ministry of Home Affairs providing connectivity to Indo–Nepal border and facilitating SSB mobility. It will also ensure connectivity to Bardoi National Park. It will also enhance the freight flow and traffic movement.
Moradabad & Kashipur bypasses in UP and Uttarakhand
The proposal was for a 4-lane bypass project (brownfield) for decongestion, and to reduce travel time. The project provides interstate connectivity between Uttar Pradesh-Uttarakhand bypass connecting major economic centers of the region. It serves as a trade route for India–Bangladesh, and India-Bhutan–Bangladesh. It will provide connectivity to Jim Corbett National Park.
The members of the NPG have further suggested certain components of integrated planning and synchronized implementation concepts and have ensured faster clearance and support for the projects. Through PM GatiShakti NMP, it shall be possible to implement these projects in the coming years, the Ministry of Commerce & Industry said in a media release.
NPG has the head of Planning Divisions of the infrastructure ministries including, the Ministry of Railways, MoRTH, Power, MoPNG, DoT, MoCA, MoPSW, Transport department, Ministry of Ports, Waterways, PwD, PSU, PMT, DS SM & PPP with a special representative from NITI Aayog and MoEF&CC. Logistics Division, DPIIT functions as the secretariat of PM GatiShakti.
NHAI Investment Trust to raise ₹1,500 crore via bonds
The NHIT had acquired three highway assets from NHAI. In all it is seeking to raise ₹3,800 crore for this transaction through a mix of bond issuance, private placement, and bank loan during the second tranche of asset monetisation.
The National Highways Infra Trust (NHIT), the infrastructure investment trust of the National Highways Authority of India (NHAI), will hit the market soon to raise ₹1,500 crore and another ₹5,000 crore by the end of this financial year.
Officials told ET it will raise ₹1,500 crore via issuance of bonds carrying a coupon rate of about 7%.
The NHIT had acquired three highway assets from the NHAI in the last week of September. In all it is seeking to raise ₹3,800 crore for this transaction through a mix of bond issuance, private placement, and bank loan during the second tranche of asset monetisation.
Going ahead with this plan, the Ministry of Road, Transport and Highways tweeted on Monday that the InvIT has raised ₹ 1,217 crore from its institional investors. It is believed that ₹213 crores will be added to this amount once Securities and Exchange Board of India (SEBI) approves the investment that NHAI is making.
The bonds worth ₹1,500 crore that are due to be floated will allow participation from retail and institutional investors.
“These bonds are expected to be issued at a coupon rate of around 7% to retail investors considering the present market conditions,” a senior official told ET on condition of anonymity.
The three newly acquired assets were added to five existing ones.