Government will approach capital market this month to raise funds for road projects, says Nitin Gadkari


By PTI IST (Released)

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Gadkari said insurance funds, pension funds have shown interest in investing in India’s road projects because there is economic viability.

Union Minister Nitin Gadkari said on Thursday that the government would approach the capital market this month to raise funds for road projects. Addressing an event here, he said NHAI’s toll revenue would rise to Rs 1.40 lakh crore per year over the next three years from Rs 40,000 crore per year currently.

“This month I will approach the capital market to raise funds for road projects…Our toll revenue is very good and NHAI’s rating is AAA…I am 100% sure we will get a good response from the capital market,” the road manager said. said the Minister of Transport and Highways.

Gadkari said insurance funds, pension funds have shown interest in investing in India’s road projects because there is economic viability.

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The minister had also said that the government would soon list InvIT on the stock exchange so that retail investors could trade units of InvIT.

InvITs are mutual fund-like instruments designed to pool investors’ money and invest in assets that will provide cash flows over a period of time.

Gadkari pointed out that the transport sector is responsible for 13.5% of India’s carbon emissions, of which road transport’s share is 90%.

“We must discourage the use of personal vehicles and promote the maximum use of public transport modes,” he stressed.


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