New Delhi: The National Highways Authority of India (NHAI) will enable lay people (retail investors) to put their money in funds that will be raised by the highway authority to take a highway project, said Union Road Road and Minister of Highways on Wednesday.
Gadkari said the small investor would get a 6% ownership and improve the return on their investment, which is higher than the interest rates offered by the Bank.
Responding to additional questions requested by BJP Lawmaker Syed Zafar Islam at Rajya Sabha, the Minister said, “Today we have received investors such as American and Canadian pension funds; Macquarie from Australia and they have invested in hundreds of crores rupees.
Now we will take money From small investors and poor people to build our highway.
For this, we will provide more than 6% interest, which is higher than the interests offered by the bank.
This will ensure a fixed return to the small investor.
This will benefit a large number of men General in our country, “he said.
So far, NHAI has raised funds through bonds and get investments from institutional investors.
It also bid a project that was completed to a private player for a collection of tolls and got the number of lumps.
The authority has also taken the toll-operator-transfer route (TOT) to monetize the completed stretch.
The Minister also mentioned how the government had resolved the issue of issues of projects after power in 2014 with policy interventions.
He said of the total 110 NHS of these projects with cumulative length of 9,250 km and an investment estimate of more than Rs 1.77 lakh Crore, 54 was finished.
This completed project has a total length of 3,680 km and requires an investment of Rs 49,000 Crore.
He said 49 projects with a total length of 4,970 km at a cost of around Rs 1.13 Lakh Crore were in various stages of progress and targeted for completion on March 2024.
NHAI to increase funds from ordinary people & give ownership of 6%, said Gadkari to Parliament
