We are building 22 new express highways including Delhi-Mumbai Express Highway. Work on seven out of 22 projects have started and these have huge potential for the industry. If players want to come forward, we can offer right of way especially on Delhi-Mumbai Express Highway which we plan to complete within three years," the minister said.
Gadkari said plans are on for an electric highway stretch on Delhi-Mumbai Expressway and the land acquisition for over Rs 1 lakh crore expressway project has been completed.
He said he will be visiting Sweden next month to see E-Highways and welcomed players for investments to convert highways into e-highways.
He also said: "The RBI has assured us that they will allow us to take infrastructure loans for 30 years. So if a bankable project is for 30 years, the loan amount will be raised within 13-18 years. There will be two years moratorium period after completion of project. When after three years, toll collection starts then we will open an escrow account. Specific amount will be deposited in this escrow account."
The minister said at present NHAI
has 480 such secure, bankable projects and five more banks are willing to give loans like the SBI gave.
"Depending upon traffic, we will keep depositing money in the escrow account, he said.
He said NHAI 's annual income for the current fiscal will be Rs 40,000 crore and it will reach Rs 1 trillion in coming years.
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