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    IL&FS projects to be resolved in 100 days

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    IL&FS

    Road transport and highways minister Nitin Gadkari said that the stalled projects of crisis-hit Infrastructure Leasing & Financial Services (IL&FS) will resolve within 100 days.

    The BJP, in its manifesto for the 2019 Lok Sabha elections, said it would invest Rs 100 lakh crore in the country’s infrastructure by 2024. Of this, about Rs 15 lakh crore is expected to be spent on roads.

    It should be Rs 15 lakh crore in the roads sector alone. Apart from this, there will be new medical colleges and money will also go into housing and railways.

    The financial crisis at IL&FS, with many of its subsidiaries in default, has affected the projects that it had been executing.

    Stuck projects like those of IL&FS  will be resolved within 100 days. Gadkari aimsto bring down the number of stuck projects to zero. There are about 25-30 stuck projects of IL&FS

    IL&FS Transportation Networks India Ltd., the roads unit of IL&FS, has more than 14,000 lane-km in a portfolio of over 30 projects. IL&FS had said it plans to divest its interests in road assets, including four under-construction projects that would aggregate about 1,736 lane km when completed.

    The agenda for the ministry is already defined, it is trying to find innovative ways to fund highway projects. The ministry has identified some 3,000 km of highway stretches with high traffic density, which he suggested should be offered under the Build-Operate-Transfer (BOT) mode.

    The pace of road construction has accelerated to 34 km per year from 12 km per year under the Manmohan Singh-headed UPA government.

    The ministry has identified 17 locations, especially near border areas, to develop roadcum-airstrips.

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