Roads sector to attract $10 bn foreign investment: Nath
Press Trust Of India / New Delhi Jul 24, 2009, 19:40 IST
India is likely to attract foreign investment of $10 billion (about Rs 48,000 crore) in the road sector over the next two years, Road Transport and Highways Minister Kamal Nath said today.
"India has become an attractive investment destination and we expect 10 billion dollars foreign investment in two years," Nath told reporters on the sidelines of the launch function of 'India Infrastructure Report, 2009'.
He said the recent road show held in Singapore by the Ministry and the industry to attract investment in the highways sector was a huge success.
On issues related to land acquisition, Nath said the resettlement and rehabilitation policy will go to the Parliamentary Standing Committee again. "There are some issues and we will have a look at it again."
Speaking about the proposal to set up the Road Finance Corporation (RFC), Nath said that a final decision on RFC will be taken in the next three months.
He said that one of the options being considered was that there could be a window for funding of the highways sector within the Infrastructure Development Finance Corporation.
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