"Road Ministry Crafts Ambitious Blueprint for Constructing 50,000 km of New Access-Controlled Expressways"

In a bid to streamline logistics and reduce costs, the Ministry of Road Transport and Highways is poised to introduce a comprehensive plan to construct 50,000 km of new access-controlled expressways by 2037, marking a significant shift from the Bharatmala scheme.

Aligned with the government's Vision 2047 for the road transport sector, this ambitious initiative aims to revamp India's road infrastructure, enhancing efficiency and promoting economic growth. As part of the plan, the ministry is considering implementing satellite- or GPS-based tolling systems on select stretches, replacing FASTags, to eliminate wait times at toll plazas and introduce cashless treatment facilities for road accident victims.

During the first 100 days of the new government, the ministry plans to outline short-, medium-, and long-term targets across various areas, laying the groundwork for the comprehensive development of India's road transport sector. According to a senior government official, future road projects will predominantly follow the build-operate-transfer (BOT) model, with increased private sector involvement.

Recent revisions to model concession agreements for both BOT and toll-operate-transfer (TOT) projects aim to simplify processes and make them more investor-friendly, facilitating private investments in road infrastructure. The overarching goal is to enhance India's logistical efficiency, alleviate congestion on roads, and elevate the road infrastructure to international standards.

With plans for new project awards already in place, the ministry awaits approval on Vision 2047 to commence bidding processes. Additionally, asset monetization remains a key focus, with targets set to generate over Rs 40,000 crore through infrastructure investment trusts (InvITs) and securitization in the fiscal year 2024-25.

In a push towards sustainability and a circular economy, the government aims to incentivize vehicle scrapping by urging Indian enterprises to establish scrapping centers and offering incentives to vehicle owners for opting to scrap their old vehicles.

The interim budget for 2024-25 allocates Rs 2,78,000 crore for road, transport, and highways, reflecting the government's continued commitment to infrastructure development and economic growth in the sector.

ET