National Highways Authority of India (NHAI) has signed an MoU with the central government-promoted National Investment and Infrastructure Fund (NIIF) to secure funding for large-sized projects, including highways.
“The MoU is related to co-operation in formation of SPVs to execute the fund arrangement for large size road projects particularly green field projects to be executed by NHAI in future,” said a government statement.
Construction of roads is one of the key priorities of the Narendra Modi government.
NHAI is pursuing alternate sources of funding to attract international investors and fund houses that are willing to invest in road projects in India but not very keen to take risk related to the project execution, the statement said. “This arrangement is expected to bring huge amount of investment at economical rate for highway development in India and reduce the stress of borrowing on NHAI balance sheet also.”
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