Centre approves Rs 1,347 crore package for highway projects in Andhra Pradesh

12-03-2024 Tue 15:19 | Local | IANS

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New Delhi, March 12: Union Minister for Road Transport & Highways Nitin Gadkari said on Tuesday that an allocation of Rs 1,346.81 crore has been approved for the 4-laning of National Highway-716 section that runs from the Tamil Nadu-Andhra Pradesh border to Puttur.

This 20 km project in Andhra Pradesh involves upgrading it to a 4-lane configuration. In addition, the project will take up the widening of the existing 4-lane stretch from Mallavaram junction to Renigunta junction (17.40 Km) on NH-71 to a 6-lane highway in the districts of Chittor and Tirupati under package-2.

The minister said this development aims to transform the specified stretch into a fully access-controlled corridor, playing a crucial role in linking the sacred cities of Tiruthani and Tirupathi.

The project will be implemented through the Hybrid Annuity Model. Under this model the National Highways Authority of India (NHAI) pays 40 per cent of the total project expenditure. This payment is released in 10 equal instalments based on the completion of targeted project milestones. The remaining 60 per cent amount has to be arranged by the road developer.

(The content of this article is sourced from a news agency and has not been edited by the ap7am team.)