A Sneak Peek At Infrastructure Development Projects Of 2023
Infrastructure development has been one of the key factors for driving the overall growth of India, along with the aim of becoming a USD five trillion economy by 2025.
As per the data availed by the Department of Economic Affairs, Government of India (GoI), the country needs to invest USD 4.5 trillion for the development of the infrastructure sector before 2030 to ensure its perpetual growth at a fast pace and achieve its goal of becoming a USD 5 trillion economy by 2025.
The infrastructure sector consists of the development of power plants, dams, bridges, highways (national and regional), railways and urban infrastructure development. Besides these, the sector also deals with the upgradation of old infrastructure projects.
To uplift the infrastructure sector, GoI has developed the National Infrastructure Pipeline (NIP) to attract investments and project preparation along with other initiatives like 'Make In India' and Gati Shakti, among others.
Here are some infrastructure development projects that GoI is looking forward to in 2023—
The Narmada Valley Development (NVD) Project with a gigantic budget of USD 30 billion is planned to execute the water resource management in the Narmada Valley river by constructing a series of canals and over 3,000 dams along the river basin for the generation of electricity and facilitating the water system for the purpose of drinking and irrigation. Sardar Sarovar Dam is also a part of the NVD project with the aim to create a 1,450 MW hydroelectric project dam.
Chenab River Railway Bridge is a 1.3 kilometres long bridge and is a part of the Udhampur-Srinagar-Baramulla Rail Link project with the aim to connect Kashmir valley with rest of India. With a budget of USD 92 million, the bridge is a joint venture between 3 engineering companies namely, Afcons Infrastructure (India), VSL India and Ultra Construction and Engineering company from South Korea.
The third biggest infrastructure project includes the Delhi-Mumbai Industrial Corridor (DMIC). The project aims to promote economic growth and industrialisation along the Delhi-Mumbai freight corridor by creating logistics hubs and industrial zones such as ports, airports, roads and power plants along with schools and hospitals.
The DMIC project under a budget of USD 90 billion covers around 1,483 kilometres stretching from Delhi to Mumbai via Haryana, Rajasthan, Gujarat, and Maharashtra. The project also aims to boost employment opportunities and uplift the country's GDP significantly.
The Bharatmala Project with an estimated budget of USD 130 billion aims to improve road connectivity in the country by constructing/upgrading nearly 34,800 kilometres of national highways and border roads. The project includes the construction of national highways, bridges, flyovers, bypasses, ring roads, elevated corridors, tunnels and overpasses to enhance jam-free connectivity in every part of India, especially the Northeastern regions.
The Mumbai Trans Harbour Link (MTHL) with a whopping budget of USD 2.2 billion will look to connect the Mumbai-Pune Expressway on the eastern side and Coastal Road which is under construction on the western side. The sea link freeway bridge road is 21.8 kilometres long and will constitute 6 lanes with a holding capacity of 70,000-80,000 vehicles, annually.
The development of Inland Waterways as a part of the strategic infrastructure at the cost of USD 600 million of investment and technical assistance from the World Bank aims to construct 111 National Waterways in India. The project is expected to complete by March 2023. The waterways will enable easier movement of ships and cargo. The Indian government also feels that the development of Inland Waterways could help achieve zero carbon emissions by 2070.
