October 4, 2022

The government will collect money from the market this month for road projects, Nitin Gadkari said

Government will raise funds through InvIT for road projects. It has kept an investment limit of Rs 10 lakh for retail investors.

Preparing to raise funds from the market for road projects

Image credit source: Focus News

Union Road Transport and Highways Minister Nitin Gadkari said the government will approach capital markets this month to raise funds for road projects. Only last month the Union Minister had announced that the government would raise capital for 4 projects. At that time Godkari had said that investors would be guaranteed a return of 7 to 8 percent on the invested money. Roads is currently working on several ambitious road projects. To complete these projects on time, the government wants to ensure availability of funds, for which all options are being worked out. According to the Union Minister, the road projects are very viable, so they will not have any problem in raising funds from the market.

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Toll revenue will soon cross Rs 1 lakh crore

He said at an event here on Thursday that the toll revenue of the National Highways Authority of India (NHAI) will increase from Rs 40,000 crore annually to Rs 1.40 lakh crore in the next three years. ‚ÄúThis month, I will approach the capital market to raise funds for the road project. Our revenue from tolls is very good and NHAI rating is AAA. I am 100% sure we will get good response from capital market. Gadkari said that insurance and pension funds have shown interest in investing in India’s road projects as these projects are economically viable. He said last month that the money would be raised through the Infrastructure Investment Trust (INVIT) and there would be an investment limit of Rs 10 lakh for retail investors.

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