NHAI cleared to raise Rs. 70,000 cr via capital market instruments

Posted by Daily Shipping Times on 01-03-2018        Tweet

CHENNAI: National Highways Authority of India (NHAI) has secured permission to raise upto Rs. 70,000 crore by way of stock market instruments, according to Nitin Gadkari, Union Minister for Road Transport & Highways, Shipping and Water Resources, River Development & Ganga Rejuvenation.

Gadkari also said the Government had taken up 24,500 km of roads for development in phase 1 of Bharatmala programme and the capital cost for the same has been estimated at Rs. 7.50 lakh crore. “We hope to start the work for about 40 per cent of the phase 1 project. Land acquisition is in progress,” he added.