The Centre on Wednesday approved the four-laning of the Hubballi-Hosapete section of National Highway 63 in Karnataka with an investment of Rs 2,272 crore.
“The Cabinet Committee on Economic Affairs (CCEA) approves the development of four-laning of the Hubballi-Hosapete section of NH-63 in Karnataka,” an official spokesperson said after the CCEA meeting.
The project pertains to widening of a 144-km stretch. It will be developed under Engineering, Procurement and Construction (EPC) basis. Under EPC, the money will be given to a private contractor and after completing the project, the builder will hand it over to the government.
The project will help expedite improvement of infrastructure in Karnataka and reduce the time and cost of travel for traffic, particularly heavy traffic, plying between the Hubballi-Hosapete section, said a statement.
Though the government had earlier planned to develop the project under BOT (Toll), none of the developers was willing to take it up despite tenders being invited four times. After failing to attract bidders under BOT, the government decided to implement the project under EPC, said a statement.