The government yesterday approved a mega plan to build 83,677 km of highways by March 2022 at a cost of about Rs 7 lakh crore, which includes the ambitious Bharatmala project.
"This could result in significant jump in annual awards - more than 25,000 km per annum over next three years and consequently provides huge opportunities for construction companies," ICRA said in a statement.
NHDP, the largest highways project ever undertaken in the country till date, is being implemented by the National Highways Authority of India (NHAI) since 2000 and as on March 31, 2017, it has completed construction of 26,255 km, and given this track record, completing 83,000 km by FY2022 looks extremely ambitious, Icra said.
He said the success of the programme critically hinges on the pace of land acquisition along with other requisite approvals.
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