Union Minister for Road Transport and Highways has stated that NHAI is negotiating with State Bank of India to raise ₹50,000 crore. NHAI has a ₹75,000 crore target for the current fiscal. It is also in talks to raise the remaining ₹25,000 crore by issuing bonds to LIC. The minister said that the essential models through which roads will be built in India will stay the same and the agency has to look at the financial viability of every project. The Principal Secretary to the PM, Sanjeev Ranjan wrote to Secretary, Ministry of Road Transport and Highways, collating suggestions to improve the operational performance of NHAI and reiterated that NHAI is totally log-jammed by an unplanned and excessive expansion of roads and it is mandated to pay much higher costs for land acquisition and construction. The note suggested monetizing NHAI's road assets through the toll-operate-transfer auctions or through an infrastructure investment trust, and to bid out new projects under the build-operate-transfer model, where the government's capital commitment would be minimal.
📅Published on:
28 August 2019
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