The government is all set to push the pace of highway construction to 42 km per day, Union Minister for Road Transport & Highways and Shipping, Nitin Gadkari said, elaborating that there is good growth potential for the immediate future, especially given the government targeted push to road construction. According to EY's Karnik, the nodal agency will float online tenders ensuring that the entire auction process must be more transparent. A recent study by India Ratings and Research estimates that investors are keen on picking up stake in completed highway projects of Rs. 24,500cr. With infrastructure investment trusts gaining traction, highways will evolve further as an asset class, it concluded that opportunities manifest despite overt limitations. Adding to the momentum, the global institutional investors such as UAE Infrastructure Investment Fund, Japan Bank for International Cooperation (JBIC), Nomura and others have indeed shown interest in picking-up stake in these long-term projects, said NHAI Chairman. While institutional investors including sovereign wealth funds are generally averse to take risks in ongoing projects, they are open to investing in stable yield projects. Moreover, the availability of foreign capital frees up domestic capital, both equity and debt, for the NHAI to invest in more greenfield projects, opined, Director and Chief Financial Officer, GVK, Isaac George.
📅Published on:
30 September 2016
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