Giving a major boost to the ailing construction equipment and commercial vehicle sector, Road transport minister NitinGadkari on Thursday announced that the government is all set to award a mega road construction project of Rs 5 lakh crore in the next three months.
Speaking at the inaugural session of the 59th SIAM Annual Convention, the Union Minister said that the road ministry is actively working to upgrade the road networks, which will thereby accelerate the demand of construction equipment like excavators and heavy trucks in the coming months. The construction activity in the road sector has seen 70-80 per cent growth in recent times and the government is aiming to continue maintaining this growth trajectory ahead.
“We are planning to bring 68 new road projects worth Rs 5 lakh crore in the next three months. The ministry has reached the final leg and about 80 per cent of land acquisition has already been done by the ministry thus far,” he highlighted.
He further added that the upcoming projects will not only improve the sales performance of construction equipment and trucks but will also present ample opportunities for employment generation. “I requested every department to present a concrete plan as soon as possible so that we can fast-track the issuance of all these new projects in the next three months,” he added.
Source: auto.economictimes.indiatimes.com | Shruti Mishra