NHAI to raise $10 bn by 2015
National Highways Authority of India is expecting to raise $10 billion by 2015 for highways development.
By TNN |
NEW DELHI: National Highways Authority of India is expecting to raise $10 billion by 2015 for highways development.
NHAI will raise funds through overseas borrowings, domestic bonds, LIC loans, term loans and loans from multilateral agencies like the World Bank and Asian Development Bank.
NHAI chairman Satyanarayana Dash is in New York to address global institutional and direct investors in this regard. With 100% FDI allowed in the road sector, NHAI is expecting to attract more foreign investment.
At present, foreign investment has come only in the form of contractors and supervision consultants, according to a company statement.
The government has launched major initiatives to upgrade and strengthen the National Highways Development Programme (NHDP). Over the next ten years, an investment of $50 billion is planned. Most of the highways sector projects would be developed through public-private partnership.
ADVERTISEMENT
It is expected that this will provide enormous opportunities for engineering companies, civil work contractors and construction equipment manufacturers the world over. Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
