NHAI to build 5,060 km of highway stretches in FY24

 The National Highways Authority of India aims to build 5,060 kilometers of highway this year. This is an increase from the previous year’s achievement of building a record-breaking 4,882 kilometers.

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The National Highways Authority of India (NHAI) has set a target to construct a total of 5,060 kilometers of highway stretches during the current financial year. This represents a growth from the previous year’s record of building 4,882 kilometers.

Similarly, The NHAI aims to award highway projects for 6,036 kilometers, up from 6,003 kilometers in the previous financial year.

According to an ICRA report, the National Highways Authority of India (NHAI) also launched 167 projects with a total length of 5,213 km in 2022-23. In all, 55,000 km of roads are under various stages of execution.

During the first two months of this financial year, the NHAI successfully constructed 655.31 km of highways and awarded only one project of 22.42 km.

In FY23, the NHAI’s capital expenditure for the development of national highway infrastructure reached an all-time high amount of Rs 1.74 trillion. This exceeded the government’s allocation of Rs 1.58 trillion. The extra of around Rs 15,000 crore was obtained through project-based financing.

For this year, the budget has allocated Rs 1.62 trillion specifically for the NHAI. Additionally, the highway builder has set a target to secure an additional Rs 15,000 to Rs 20,000 crore through private financing using special-purpose vehicles for specific projects.

The Ministry of Road Transport and Highways has set a total capital expenditure of Rs 2.58 trillion for FY24, up from the Rs 2.06 trillion spent in the previous year.