National Highways Authority of India (NHAI) has received environment clearance for updgrading the 146-km long carriageway of Kanpur (Chakeri) to Allahabad section of NH-2 in Uttar Pradesh at a cost of Rs 1,246 crore.

"Based on the recommendation of the Expert Appraisal Committee, the Environment Ministry yesterday gave environment clearance to the NHAI's proposal 'Rehabilitation and Upgradation of existing carriageway of Kanpur (Chakeri) to Allahabad section of NH-2'," a senior government official said.

Highway projects worth about Rs 6,000 crore, including four projects on hybrid annuity model, have been approved for construction by the Expenditure Finance Committee on Friday.

Expenditure Finance Committee (EFC) headed by Road Transport and Highways Secretary Sanjay Mitra has given its approval to construction of highways totaling a length of over 409 km in the states of Maharashtra, Andhra Pradesh, Telangana, Sikkim and Assam, an official statement said.

National Highways Authority of India (NHAI) may take back three stranded road assets worth over Rs 2,100 crore in southern India. A senior NHAI official confirmed to FE that the authority is in talks with the concessionaires to take back the assets, though no settlements on their claims have been arrived at. Two concessionaires — Larsen & Toubro and MEP Infrastructure Developers — have terminated the concessions at their end.

The National Highways Authority of India (NHAI) has picked builders for four-laning the Bhavnagar-Somnath national highway stretch in Gujarat at a cost of Rs.2,640 crore.

The road connects religious and tourist places such as the Island of Diu, Somnath Temple, Gir National Park, Porbandar and Dwarka, NHAI said in a statement on Monday.

NEW DELHI: Bringing some relief to lenders that have financed 'languishing' projects, NHAI has decided to pay back major share of the loan to the banks after carrying out independent assessment of the work done.

Such projects will then be, under public-private-partnership (PPP), taken over by the authority for their completion. Sources said NHAI Board, the apex body with representatives from different ministries, has approved the proposal and it will soon be sent to the cabinet secretariat for its assent to carry out necessary changes in the model concession agreement(MCA).

New Delhi: The National Highways Authority of India (NHAI) plans to leverage its resources to set up an alternative investment fund (AIF), as it aims to ease funding for highway building.

With the ambitious National Investment and Infrastructure Fund yet to take off, government departments are looking at options of their own, at a time when banks are squeezed by asset-liability mismatches and rising bad debt.

To finance its various projects, National Highways Authority of India (NHAI) plans to raise Rs 55,000 crore through bonds this fiscal.

"NHAI plans to raise Rs 5,000 crore through capital gains bonds and Rs 50,000 crore through taxable bonds or other similar instruments," Minister of State for Road Transport and Highways Pon Radhakrishnan told Rajya Sabha in a written reply on Monday.

Keen on improving travelling experience on the highways, the National Highways Authority of India (NHAI) is considering to offer a clutch of user-friendly amenities including cleaner toilets, speed monitoring and free Wi-Fi.

Plans are also afoot to put in place a well-equipped patrolling system and providing ambulances with all basic needs to take care of victims of road accidents.

New Delhi: The road transport and highways ministry has decided to more than double the rate at which national highways are being built—from 16 km a day to 41 km a day in 2016-17.

This is around 2.5 times the current rate of construction.

While road construction has picked up this year, a whole host of projects — across 2,500 km — that entail an investment of over Rs 27,000 crore are stuck. Among the reasons for the delay are the inability to acquire land and the absence of environment clearances. A few of them, however, are merely awaiting completion certificates while others are stuck because of legal disputes between the concessionaire and the National Highways Authority of India (NHAI).

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