The road transport and highways ministry's ambitious programme to construct 44 economic corridors at a cost of Rs 5 lakh crore is likely to get the Cabinet's approval soon.
The project involves construction of 24,000 km of new highways, as well as feeder routes alongside these roads. It is aimed at faster movement of cargo, along with developing multimodal logistics hubs and parks on the periphery of major commercial centers.
According to a senior road ministry official, they have the proposal to the Cabinet for approval. The nod is expected soon.
Around 80% of the total work would be government-funded engineering procurement and construction (EPC) projects, the official said. The remaining would be undertaken as public-private partnerships under the hybrid annuity model. The government will spend more than Rs 4 lakh crore on its own on the project in the next five years.
