 "NHAI to raise Rs 55,000 crore via bonds in FY17")
To finance its various projects, National Highways Authority of India (NHAI) plans to raise Rs 55,000 crore through bonds this fiscal.
"NHAI plans to raise Rs 5,000 crore through capital gains bonds and Rs 50,000 crore through taxable bonds or other similar instruments," Minister of State for Road Transport and Highways Pon Radhakrishnan told Rajya Sabha in a written reply on Monday.
The government has permitted borrowing of Rs 59,279 crore by NHAI during 2016-17.
"Ministry and the NHAI propose to construct maximum possible number of kilometres of National Highways in the year 2016-17," Radhakrishnan said in a separate reply.
He said borrowed funds would be utilised towards part financing of various projects being implemented by NHAI under the National Highways Development Project and other national highways projects.
"Emphasis will be on the ongoing projects and also various special projects," he said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%