 "NHAI has a 'SPV' plan to stave off debt by adopting project-based funding")
In another attempt at reducing debt by innovative funding, the National Highways Authority of India (NHAI) plans to adopt a project-based funding model for future projects.
“We will convert each project into a special purpose vehicle (SPV) and the funds will be arranged by that company. We have a list of 22 expressways and access-controlled highways where we plan to implement this model,” NHAI Chairman Sukhbir Singh Sandhu said.
According to sources, this exercise is being undertaken by the authority to stave off debt on its own books. The NHAI’s debt had become a cause of concern last year as
