Cabinet approves Bharatmala project; 83K km roads to be added by 2022

India Infoline News Service | Mumbai | October 24, 2017 12:11 IST

This will be the biggest ever highway development plan to develop and expand approximately 83,000 km of roads at an investment of Rs 6.9 lakh crore by 2022, which includes the Phase 1 of Bharatmala project.

The Union Cabinet has approved the Phase 1 of Bharatmala project to develop and expand approximately 40,000 km of roads at an investment of Rs 3.5 lakh crore in the next 5 years, as per media reports.

This will be the biggest ever highway development plan to develop and expand approximately 83,000 km of roads at an investment of Rs 6.9 lakh crore by 2022, which includes the Phase 1 of Bharatmala project.
According to reports, FM Arun Jaitley will brief about the Cabinet decisions at 4 pm today. The proposal is aimed at pushing economic activity and generating at least 32 crore man-days across the country in the next five years.

The entire plan is to improve the speed of traffic flow on key corridors by providing uniform four-lane roads between two identified points. Most of these corridors will be shorter and access-controlled for faster movement of cargo vehicles, the report stated.

Shares of the road construction stocks on approval given by Union Cabinet. Dilip Buildcon Ltd is currently trading at Rs 774.85, up by Rs 3.9 or 0.51% from its previous closing of Rs 770.95 on the BSE. The scrip opened at Rs 775 and has touched a high and low of Rs 784.2 and Rs 771.5 respectively.

NCC Ltd is currently trading at Rs 101.5, up by Rs 6.95 or 7.35% from its previous closing of Rs 94.55 on the BSE. The scrip opened at Rs 94.9 and has touched a high and low of Rs 102.25 and Rs 94.75 respectively.

Hindustan Construction Company Ltd is currently trading at Rs 35.15, up by Rs 1.6 or 4.77% from its previous closing of Rs 33.55 on the BSE.

Ashoka Buildcon Ltd is currently trading at Rs 188.1, up by Rs 2.25 or 1.21% from its previous closing of Rs 185.85 on the BSE.

***Note: This is a NSE Chart

 

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