New Delhi: The Ministry of Road Transport and Highways (MoRTH) will come out with a modified Build-Operate-Transfer (BOT) project document in the next one month to attract interest of private companies for investments in the highways sector, a senior official said on Monday.
Addressing an event organised by Rural Electrification Capital (REC) Ltd, Road Transport and Highways Secretary Anurag Jain said the government's budget on the highways sector has increased three times in the last 10 years.
"We are giving final touches to modified BOT document for highways construction. It will be finalised in one month," he said.
BOT projects provide the risk of financing, building and operating highway projects with a concession period of 20-30 years.
Jain also said MoRTH has proposed to spend Rs 20 lakh crore to build 50,000 km of high speed (access-controlled) corridors by 2037.
Once completed, the average travel speed of trucks will increase from the current 45 kmph to 75-80 kmph on the National Highway network, he added.