Published at December 20, 2024 by InfraJunction
The National Highways Authority of India (NHAI) plans to monetise the 32 km highway link through the toll-operate-transfer (TOT) model. This will happen once traffic volumes increase after the port becomes operational.
The National Highways Authority of India (NHAI) will build the Rs 2,881 crore road link to Vadhvan port in Maharashtra under the engineering, procurement, and construction (EPC) mode. The road will be monetised later through the toll-operate-transfer (TOT) model as traffic volumes increase after the port's operation.
A decision was made during a meeting on December 9, chaired by Nitin Gadkari, Union Minister of Road Transport and Highways. The meeting concluded that the Build-Operate-Transfer (BOT) Toll model may not be feasible for the 32 km, 8-lane highway connecting NH 48 and the Delhi-Mumbai Expressway to Vadhvan port. Traffic flow is expected to be low in the early stages, as the highway will be operational before the port starts functioning. The port is expected to begin operations in 2029-30, with no traffic until the first phase is complete.
An official, speaking on condition of anonymity, briefed on the meeting, “But, once the traffic flow builds up with the development of the port, the toll revenues can be monetised through the TOT (model).”
The official also said,“NHAI will submit the proposal for approval of the Union Minister of Road Transport and Highways, Nitin Gadkari, to take up the project on EPC mode.”
The meeting was informed that the Jawaharlal Nehru Port Authority is expected to complete land acquisition for the road and rail links to Vadhvan port by March 2025. NHAI has been directed to ensure the EPC contract for the highway project is awarded before March 2025. Work on the highway connectivity to Vadhvan port is expected to begin in May 2025.
“This is a big boost to the Vadhvan port project,” said Unmesh Wagh, Chairman of the Jawaharlal Nehru Port Authority, which is leading the new port project.
He further stated, “Now, the road link to the new port project will be ready in a year and facilitate the construction of the port apart from reducing time and cost.”. He also commented, “everything is falling in place at a fast pace” for building the new port.
The project gained further momentum as the Bharatiya Janata Party-led alliance retained power in the recent Maharashtra assembly elections.
Follow us for the Latest Infra Industry Updates
Facebook - https://www.facebook.com/infrajunction/
Instagram - https://www.instagram.com/infra_junction/
Previous
Next
A-23, 3rd floor, A Block, Sector 9,Noida, Uttar Pradesh 201301
