Latest News | MoRTH to Come out with BOT Project in the Next Month to Attract Investments: Anurag Jain
Get latest articles and stories on Latest News at LatestLY. The Ministry of Road Transport and Highways (MoRTH) will come out with a modified Build-Operate-Transfer (BOT) project document in the next one month to attract interest of private companies for investments in the highways sector, a senior official said on Monday.
New Delhi, Jan 8 (PTI) The Ministry of Road Transport and Highways (MoRTH) will come out with a modified Build-Operate-Transfer (BOT) project document in the next one month to attract interest of private companies for investments in the highways sector, a senior official said on Monday.
Addressing an event organised by Rural Electrification Capital (REC) Ltd, Road Transport and Highways Secretary Anurag Jain said the government's budget on the highways sector has increased three times in the last 10 years.
"We are giving final touches to modified BOT document for highways construction. It will be finalised in one month," he said.
BOT projects provide the risk of financing, building and operating highway projects with a concession period of 20-30 years.
Jain also said MoRTH has proposed to spend Rs 20 lakh crore to build 50,000 km of high speed (access-controlled) corridors by 2037.
Once completed, the average travel speed of trucks will increase from the current 45 kmph to 75-80 kmph on the National Highway network, he added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)