Nitin Gadkari asserts that none of NHAI's initiatives would result in a loss.

Since its road projects generate income, the National Highways Authority of India (NHAI) won't become caught in a debt cycle, according to Nitin Gadkari, minister of highways and roads. He said, “the government is prioritising the construction of green motorways and logistics parks and supporting alternative fuel cars."

What are the primary priorities for your ministry?

Our main goals are to minimise pollution while enhancing job potential, boosting exports, reducing imports, and upgrading infrastructure. Priority should be given to domestically produced, inexpensive, pollution-free solutions that pave the path for import replacement.

Green expressways are a top goal since they will reduce logistical costs and save gasoline. A focus area has been chosen as the development of logistics parks. We are also considering alternative options, such as using the property that the state transportation firms have available. We have suggested turning the state-owned property designated for bus stops by state transportation agencies into bus ports. They will supply the land, we will develop it, and we will split the profits evenly.

Additionally, tourism has to be promoted. More ropeways, cable cars, multi-level parking lots, and funicular railways must be built. For these, we have 260 proposals.

A top focus is moving toward electric transportation. The winning bids in a tender for 5,500 buses were Rs 41/km for air-conditioned buses and Rs 39/km for non-AC vehicles. Now that double-decker electric buses are available, we can provide tourists with a level of luxury akin to business class. Promoting public transportation is necessary.

Another important topic is blending biofuels, such as ethanol and methanol. The intended mixture of diesel and methanol is 15%.

Gati Shakti's ability to disrupt the silos in which the government functions is its greatest benefit. We can view the locations of the clearances that are blocked on a website. Railways, environmental, and forest clearances all experienced delays. Both the speed of approvals and stakeholder coordination have increased.

Why has the rate of highway development slowed down?

A significant portion of the nation saw severe rains this year, which hampered building. Despite the difficulties, we want to prepare shortly. We ought to be able to do as much this year as we did last.

By January, we will be able to use up the whole FY23 budgetary allotment. Work is progressing at a good clip. The only road construction bottlenecks we encounter are related to land acquisition and clearances from government agencies.

Will the government use the InvIT route to raise more money for roads?

Within seven hours, our InvIT bond issuance was oversubscribed. We have the public's backing and plenty of funding. Every two weeks, we can try to raise money by approaching the stock market. The money we raise ultimately gets deposited in bank accounts, which is the only issue. We don't have any projects that the funding could be used for right away. As and when there is a need, money would be raised.

EPC continues to be a major force in highway construction. Why have BOT projects been given less attention?

Due to the participants' financial difficulties and the lack of bank credit as a result of the industry's stress, BOT did not attract a lot of interest. Through EPC projects, the sector's health has improved. Now that conditions are improved, businesses may take part in BOT projects, and we will soon begin presenting them.

Modifying the hybrid annuity model and reducing the government contribution from 40% to 20% of the project cost have been discussed. What do you think?

On these lines, nothing is happening. At 40%, the reaction is decent. The mechanism through which projects are awarded is determined by the contractors' financial standing, investors' appetite, and their level of investment readiness.

When the road construction industry had failed and BOT had no buyers, HAM was founded. A total of 406 projects worth 3.85 lakh crore were still unfinished. We put an end to projects worth 40,000 crore and protected banks from roughly 3 lakh crore in NPAs. These problems have mostly been resolved.

Concerns have been raised about NHAI's high debt levels. your opinion?

These worries are unwarranted. No NHAI project is a loss-maker. The investment is repaid with interest after 12–15 years. Our assets, which are 10–12 years old, are free of debt and profitable. Therefore, new projects like the Mumbai-Delhi highway will take some time to make up for their initial costs, but they will last for 100 years. Therefore, by 2024, the NHAI's existing annual toll revenue of 40,000 crore would increase to 1.40 lakh crore. The largest aim is to extend the lifespan of roads and lower building costs. As a result, we have excellent economic prospects for the future and NHAI will never be trapped by debt.

Do you believe that road monetization is now moving more slowly?

There is no sluggishness. When there is a need, money is raised. The budgeted grant and the money that is already in our possession cannot be used. 

What will we do with the additional funds generated by monetisation?

More InvITs are being prepared. I have requested that National Highways and Infrastructure Development Corporation Limited adopt the InvIT method to approach the financial markets.

While implementing new technology, issues will inevitably occur. For EVs, there were no suitable supply networks. Materials were imported rather than produced in factories. There was some subpar equipment used. Vendors and quality standards are being established as the industry grows. In six months, everything will be on a regular schedule.

Is the availability of charging infrastructure a barrier to EV adoption?

Each scooter, auto rickshaw, and vehicle is equipped with a home charger. Long distance travel, such as from Mumbai to Delhi, might cause issues. 670 charging stations are being installed along the road as a solution. In actuality, individuals do not drive their EVs vast distances.

My automobile runs on hydrogen. There are no gas stations along the highway. I go to Faridabad to refill it and bring it back. The number of automobiles will increase as more hydrogen stations are added.

Similar growing pains were experienced when CNG was first introduced.

What about the discussion regarding Gujarat winning projects from Maharashtra?

Controversies of this nature should be avoided. Everyone should grow, and in the end, the investor gets to decide which projects are economically viable. Gujarat and Maharashtra are the two states with the fastest rates of growth. So, we ought to prioritise development.

There is no sluggishness. When there is a need, money is raised. The budgetary grant and the money that is already in our possession cannot be spent.

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