Centre approved Rs 2,675.31 crore The 4-Laning of the Belgaum-Hungund-Raichur, Karnataka.

The 4-Laning of the Belgaum-Hungund-Raichur Section of National Highway-748A in the Karnataka districts of Bagalkot and Belgavi has been approved for a total of Rs 2,675.31 crore, according to Union Minister for Road Transport & Highways Nitin Gadkari’s announcement on Wednesday. This project, which has a 92.4 km overall length, will be carried out via a public-private collaboration and the Hybrid Annuity Mode.It is an integral part of the Panaji-Hyderabad economic corridor. The hybrid annuity model (HAM) for building National Highways (NH) is being executed to speed up the construction of roads in the country by encouraging private developers in highway projects. With this private-public partnership (PPP) model, the government will fund 40% of the project during construction and the other 60% will be paid to the concessionaire as interest-bearing annuity payments during the course of operations.