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NHAI raising funds via monetization of highway assets: Minister

IANS  |  New Delhi 

The Authority of is raising funds for the government's flagship Pariyojana through monetisation of operational assets through toll-operate-transfer (TOT) model, the government said on Monday.

In a written reply to a question in the Rajya Sabha, of State for Road and Highways Mansukh L. Mandavia said the first bundle comprising of nine such projects with aggregate length of around 680 km has already been bid out.

Apart from that, the NHAI is also borrowing from the market through the (IEBR) route. In the current financial year, it has raised Rs 8,500 crore from LIC and Rs 10,000 crore from EPFO through taxable bonds.

"Further, NHAI issued rupee denominated Masala Bonds of Rs 3,000 crore through the on May 11, 2017," the said adding these methods were being used to augment budgetary resources of the government.

The total cost of the first phase of the Pariyojana -- involving construction or upgradation of 34,800 km of national highways between 2017-18 and 2021-22 -- is pegged to be Rs 5,35,000 crore.

In addition, 48,877 km of projects under other ongoing schemes are also to be implemented during the same period, Mandavia said.

"This has an approved outlay of Rs 1,57,324 crore. Therefore, including Pariyojana Phase-I, 83,677 km of highway sector projects are proposed to be implemented with an overall cost of Rs 6,92,324 crore," he added.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 23:04 IST
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