A committee on infrastructure, headed by Prime Minister Manmohan Singh, on Tuesday cleared the Rs 22,750-crore (Rs 227.5 billion) fifth phase of the national highways scheme covering 6,500 km.
This phase, expected to be completed by 2012, will see the six-laning of 5,700 km of the Golden Quadrilateral and 800 km of select highways.
Named NHDP-V, the project is estimated to cost Rs 3.5 crore (Rs 35 million) per km and private investment estimated at Rs 19,335 crore (Rs 193.35 billion). Budgetary support would be about Rs 3,415 crore (Rs 34.15 billion).
"The project will be handled by a new concession agreement. It will be on the 'design-build-finance-operate-transfer' basis," Road Transport and Highways Minister TR Baalu said.
"The model concession agreement would be ready in the next two weeks and it would be applicable to projects beyond 100 km," he added.
Planning Commission Deputy Chairman Montek Singh Ahluwalia said the finance ministry had a different opinion on some sections of the MCA.
"A committee of secretaries will look into it and this will be finalised in the next 15 days," Ahluwalia said. "Apart from the Golden Quadrilateral, the highways with a traffic of 25,000 per car would qualify for 6-laning," he added.
