Smart City initiative to benefit roads & highway sector: PHD Chamber

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highwayIn a bid to clear large number of stalled highway and roads project, the ‘Smart City’ initiatives of the NDA government will work as a boon for the sector, said a recent report of PHD Chamber of Commerce and Industries.

According to the report, as the banks gear up to clear large number of stalled projects to minimise their NPAs, a likely beneficiary of this move will be road and transport sector. High-quality highways and long road project connecting borders are likely to get maximum importance.

Rajnish Goenka, Chairman, PHD Chamber – Delhi Committee, said, “In the last financial year, 33 road projects targeted to construct 3,500 kilometer could not take off due to dearth of funds and equity.”

According to a press released of PHD Chamber ,aboutprojects worth Rs 60,000 crore were escalated further due to delay in execution. But shift in government policy from PPP to EPC is making things move in good direction for road and transport sector, Goenka said, adding that out of Rs 60,000 crore stalled projects, road and surface transport ministry is hopeful of clearing nearly 80 per cent of the total amount.

 Jonathan Stewart Jersey

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