NHAI unveils Rs. 55,000-cr road funding

In its quest to match its commitment in the road sector, the National Highways Authority of India(NHAI) has prepared a blueprint to generate a staggering sum of Rs. 55,000-cr from EPFO, LIC, and also via Masala bonds to fund its road projects in the current fiscal, Minister of State for Road Transport and Highways, Mansukh L Mandaviya said, elaborating that the nodal road building agency will raise Rs. 20,000-cr from EPFO, Rs. 8,500-cr through LIC, Rs. 5,000-cr each through Masala and 54-EC bonds and Rs. 16,500-cr from the market. He further revealed that the national insurer, the LIC has offered the coupon rate of 30 years maturity at G-sec rate plus 50 bps per annum and the reference G-sec rate shall be 15 working days average annualized G-sec rate.