NHAI inks deal with NIIF for funding of highway projects

National Highways Authority of India (NHAI) has inked an arrangement with semi sovereign wealth fund National Investment Infrastructure Fund (NIIF) to fund huge greenfield street projects, which will be executed by the highway authority in future.

"This arrangement of innovative alternative source of funding is being looked by NHAI to attract international investors and fund houses who are eager to invest into street projects in India however not exceptionally quick to take risks related to project execution”, said by road and transport minister.

Such an arrangement is relied upon to bring huge investment at an economical rate for the growth of highways in the country.

"NHAI is raising funds for its mega project, and it is not dependent only upon budgetary help. Several funding models were received in the past towards this, which have yielded great outcomes. The MoU with NIIF will give inventive financial models including for the 24,000 km ₹7.5 lakh crore Bharatmala Pariyojana," said by Road, Transport and Highways minister, Nitin Gadkari.

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