NHAI to borrow Rs 5,000 cr in FY10
The National Highways Authority of India (NHAI) is in talks with the Asian Development Bank (ADB) to raise $100 million (about Rs 500 crore) this financial year, taking its overall borrowing to Rs 5,000 crore in the current fiscal.
By PTI |
NEW DELHI: The National Highways Authority of India (NHAI) is in talks with the Asian Development Bank (ADB) to raise $100 million (about Rs 500 crore) this financial year, taking its overall borrowing to Rs 5,000 crore in the current fiscal.
"We have a negotiation going on with ADB for 100 million dollar in 2009-10. Our total borrowing for the current financial year will be Rs 5,000 crore," NHAI Member Finance A Didar Singh told reporters here on the sidelines of a CII conclave on National Highways Development.
Of the total Rs 5,000 crore, while about Rs 500 crore would be borrowed from the multilateral agency, the rest would be raised through tax-free bonds, which are already available in the market.
The total fund raising requirement of the authority would be Rs 90,000 crore up till 2017-18, he said, adding, projects for constructing 12,000 km or roads would be bid out in the current fiscal.
"We have a negotiation going on with ADB for 100 million dollar in 2009-10. Our total borrowing for the current financial year will be Rs 5,000 crore," NHAI Member Finance A Didar Singh told reporters here on the sidelines of a CII conclave on National Highways Development.
Of the total Rs 5,000 crore, while about Rs 500 crore would be borrowed from the multilateral agency, the rest would be raised through tax-free bonds, which are already available in the market.
The total fund raising requirement of the authority would be Rs 90,000 crore up till 2017-18, he said, adding, projects for constructing 12,000 km or roads would be bid out in the current fiscal.
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