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NHAI raising funds via monetization of highway assets: Minister
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SME Times News Bureau | 13 Mar, 2018
The National Highway Authority of India is raising funds for the
government's flagship Bharatmala Pariyojana through monetisation of
operational national highway assets through toll-operate-transfer (TOT)
model, the government said on Monday.
In a written reply to a
question in the Rajya Sabha, Minister of State for Road Transport 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 Internal Extra Budgetary Resources (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
London Stock Exchange on May 11, 2017," the Minister said adding these
methods were being used to augment budgetary resources of the
government.
The total cost of the first phase of the Bharatmala
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 Bharatmala 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.
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