CCEA approves construction of 1000 km of expressways

New Delhi, Nov 2 (UNI) The Cabinet Committee on Economic Affairs today approved the construction of 1000 km of expressways under phase VI with full access control and new alignments along the routes at a cost of Rs 16680 crore.

Briefing newsmen after the meeting, Finance Minister P Chidambaram said that out of this Rs 9000 crore will come from private sector and the balance amountof Rs 7680 crore as viability gap funding, cost of land acquisition, utility shifting and consultancy to be met by the Government.

He said the expressways would be built through Public Private Partnershp on Build Operate and Transfer (BOT) basis following design, buld, finance and operate pattern under National Highways Development Project Phase VI.

He said the construction of expressways will improve traffic safety and provide faster movement of vehicles with improved riding quality and time. This will lead to reduction in vehicle operating cost and significant reduction in fuel consumption for the vehicle resulting in energy conservation.

The project is likely to be completed by December 2015, he added.

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