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| NHAI mobilises Rs 500 cr via bonds |
| Press Trust of India / Mumbai Jun 28, 2010, 21:56 IST |
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The National Highways Authority of India (NHAI) today said it has raised Rs 500 crore through bonds to fund its 9,000-km projects this fiscal.
The authority needs Rs 7,000 crore for the execution of its target, NHAI Member (Finance) J N Singh told PTI here.
"Currently, we have raised Rs 500 crore through bonds. The rest we would be raising through external commercial borrowings," Singh said.
He said the authority has already awarded contracts for 2,700-km stretch. Singh noted that for achieving its 12,000-km target for the next few years, the government would require around Rs 33,000 crore. "This we plan to raise by 2013."
"We are mulling borrowing funds from insurance companies. The authority is also planning to raise funds from the World Bank," he said.
Singh stressed on the public private partnership mode for development of infrastructural projects. "There is a huge infrastructure gap, which can be bridged through public private partnership. If we adopt the PPP mode, we can achieve our 20-km per day target easily," Singh added.
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