The National Highways Authority of India (NHAI) and the National Infrastructure Investment Fund (NIIF) have signed a MoU to bring big ticket foreign investment in the road sector in order to generate ₹75,000 crore this year to meet its road financing requirements in the highway sector. Plans are also afoot to mobilize private investment. The two organizations will form a special purpose vehicle (SPV), through which NIIF will route funds to NHAI‘s specific projects. The MoU could bring in more than ₹50,000 crore in one SPV, said sources. NIIF is also keen to participate in various projects including the hybrid annuity ones. A project like the Delhi-Mumbai Expressway can also be auctioned after completion under the TOT model. NHAI will undertake the construction risk. Transport and highways minister Nitin Gadkari said that NIIF would make faster decisions about its investments in NHAI since the highways authority has a lot of appetite for absorbing funds.
📅Published on:
12 July 2019
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