Bhubaneswar, Nov. 20 -- The Union Finance Ministry's Public Private Partnership Appraisal Committee (PPPAC) has cleared an estimated Rs 8,300.79 crore investment for developing a crucial portion of the Odisha coastal highway between Rameswar in Khordha and Paradip.

Following the current approval, the National Highways Authority of India (NHAI) can issue bids once the matter receives final union cabinet approval.

According to reports by The New Indian Express, the approved project spans 160.18 km of the 346-km greenfield coastal corridor and will be constructed under the hybrid annuity model in two phases.

The Rameswar-Kakatpur section is planned as a four-lane access-controlled route, while the Kakatpur-Paradip segment will initially b...