Indian infrastructure impressive and drawing several foreign investors: Nitin Gadkari
NEW DELHI: Several major foreign investors have lined up to buy and operate government-owned National Highway Projects for 30 years, road transport and highways minister Nitin Gadkari told today.
DBS CEO expressed the group’s willingness to invest almost $7 billion in buying into existing highway projects under the ‘Toll Operate Transfer’ policy.
100 Government-Owned Highway Projects will be leased out next month. The investors, along with a local partner, will collect tolls and operate projects for 30 years in lieu of an upfront payment to the government. He also said Temasek and GIC of Singapore have evinced interest in subscribing to bonds worth Rs 5,000 crore from National Highways of Authority of India. There are talks with companies such as Transworld and Ascendas to develop world-class logistics hubs in India. There will be a public transport scheme that’s part of his ministry’s big electric mobility push. The ministry will assist loss-making State Transport Corporations in making electric buses available for public transport and put in place the necessary charging.
Road building is all-time high, with a daily highway construction of 23 km against target to build 40 kilometre per day. The government’s reforms have got wholehearted support, and it has taken various historic measures for public good, unlocking stuck projects and bringing in fresh investment like never before he concluded.