To attract foreign investors to bid for road projects in the country, road transport and highways minister Kamal Nath said on Sunday the government would award the first mega highways project in two months.
"The first mega highways project will be bid out within two months. We are looking at six such mega projects. These projects are being planned all over the country," Nath said on the sidelines of the India Economic Summit.
Nath introduced the concept of mega road projects in May this year when he took charge of the ministry. These projects would be above 600 km and would require investments to the tune of Rs 5,000 crore (Rs 50 billion) to Rs 6,000 crore (Rs 60 billion).
The ministry also plans to revise the toll rates downwards by the end of this month to attract more traffic. Due to higher toll rates, people avoid the toll roads and use rural roads.
The ministry may bring down the toll rates charged on roads with bypass at the level of roads without bypass. The toll rates at the stretches with bypass are 35 per cent higher than normal roads.
Image: Kamal Nath
