The Union Cabinet will sure grant approval to the road transport and highways ministry’s ambitious programme to construct 44 economic corridors at a cost of Rs 5 lakh crore.
The project involves construction of 24,000 km of new highways, as well as feeder routes alongside these roads. It is aimed at faster movement of cargo, along with developing multimodal logistics hubs and parks on the periphery of major commercial centres.
A senior official from the ministry told ET: “We have sent it (the proposal) to the Cabinet for approval. The nod is expected soon.”
Quoting the official further, the report said around 80 per cent of the total work would be government-funded engineering procurement and construction (EPC) projects. The remaining would be undertaken as public-private partnerships under the hybrid annuity model.
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