National Highways Authority of India (NHAI) has started the process for raising Rs 75,000 crore through market borrowings for the current financial year started April 1, chairman Nagendra Nath Sinha said on Wednesday.
The highway authority will borrow funds through multiple channels, including LIC, debt funds, pension funds and sovereign funds, Sinha said, adding that the body will also look at sourcing funds from Infrastructure Investment Trusts, National Investment and Infrastructure Fund and even special purpose vehicle.
The authority is also open to funds generated by the means of monetising its assets.
Sinha also added that the authority would soon initiate awarding of projects for roads and national highways to intended stakeholders, but only on the completion of the land acquisition process.
For FY20, NHAI has received the approval to raise Rs 75,000 crore, 21 percent up on the year. In the last financial year ended March 31, NHAI was to raise Rs 62,000 crore, a mix of debt from banks, toll revenue, and through road monetisation scheme.
During the current year, it has also been sanctioned government support of Rs 36,691 crore.
First Published: Jul 10, 2019 3:29 PM IST
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