Government plans to develop an integrated system of roads, railways, airports and water ports which would be a game changer, Union Minister Nitin Gadkari said on Friday.
While addressing the 89th Annual General Meeting of Ficcihere, the Road Transport, Highways & Shipping Minister said that the development of integrated logistics and inland waterways would be a game changer.
The government is planning to develop an integrated system of roads, railways, airports and water ports and is also working on port-led industrialisation, he said.
The minister said that the government has accorded the highest prominence to infrastructure and his ministry is committed to achieve this objective.
He said that his ministry targets to implement Rs 25 lakh crore worth of projects in five years of which, Rs 15 lakh crore will be in road sector and Rs 10 lakh crore in shipping sector.
Pushing the government's 'Make in India' agenda, the Minister gave the mantra of 'Be Indian, Buy Indian' and invited Indian companies to join the initiative to drive the massive change in infrastructure sector.
Highlighting the importance of a circular economy, Union Minister Nitin Gadkari today projected a 'Waste to Wealth' economy of Rs 10 lakh crore which will help create value from sewage and waste land.
Gadkari also said that 95 per cent of Rs 3.85 lakh crore stalled road projects are operational, saving the banks from creating non-performing assets. "When the government came to power there were Rs 3,85,000 crore worth of stalled projects. At present, 95 per cent of the projects are operational."
The government is spending Rs 4.5 lakh crore in the roads sector and Rs 3.60 lakh crore in shipping.
He added that one of the most important initiative by the government was the proposed construction of 12 express highways across the country for the first time.
To relieve Delhi of its rising traffic and pollution, the government is building easterly and westerly bypass at a cost of Rs 15,000 crore.
This was earlier to be completed in two-and-a-half years and now advanced to 400 days at the Prime Ministers behest. The government also plans to develop 36 ring roads in mega cities across India.
The minister said that to develop roadside amenities such as medical, eatables, entertainment etc, the government had identified 1,300 spots for which it will invite the private sector for bidding.
Showcasing the huge potential for the port sector, the Minister said that the government ports are performing exceptionally well and have shown a profit of Rs 6,000 crore this year and projected a profit of Rs 7,000 crore next year.
He added that in future economic viability lies in logistics, road amenities, tourism, bus ports, water ports and multimodal hubs.
Source: Business StandardPrevious Next
Huge Opportunities For Investment in Maritime Sector: Nitin Gadkari
India Tanker Shipping & Trade Summit 2019