Panaji-Hyderabad economic corridor sanctioned Rs2675 crores by Union govt
The project, covering 92.40 km, will be carried out employing the Annuity Hybrid Mode
image for illustrative purpose
Hyderabad: Union Minister for Road Transport & Highways, Nitin Gadkari, announced on Twitter that the Union Government has allocated Rs. 2675.31 crore for the 4-Laning of the Belgaum-Hungund-Raichur Section of National Highway-748A.
The project, covering 92.40 km, will be carried out employing the Annuity Hybrid Mode. The hybrid annuity model (HAM) for building National Highways (NH) to speed up the construction of roads in the country by renewing the interest of private developers in highway projects also known as the PPP projects. Under this 40% of the Project Cost will be provided by the Government as Construction Support during the construction period and the balance 60% will be paid as annuity payments over the operations period along with interest thereon to the concessionaire.
Gadkari mentioned in his social media post that this development is part of the Panaji-Hyderabad Economic Corridor 10(EC 10), connecting key industrial centers such as Panaji, Belgavi, Raichur, and Hyderabad.
EC10 connects pivotal industrial hubs including Panaji, celebrated for fishing, tourism, agriculture, and pharmaceutical industries. Belgavi is renowned for food grains, sugarcane, cotton, tobacco, oilseed, and milk products. Raichur is recognized for rice, cotton, groundnut, and pulses, and Hyderabad is distinguished for IT, Pharma, and Healthcare, and is a hub for various startups situated in Goa, Karnataka, and Telangana states, respectively.
