NHAI to raise Rs 15-20k crore via InvIT
The National Highways Authority of India (NHAI) is planning to launch its InvIT offer in the coming months, which is part of the government’s plans to explore alternative sources of funding to supplement public spending in the roads and infrastructure sector. This comes as private sector is showing lower interest in the build, operate and transfer model, since they have to bear the entire initial cost. NHAI will be raising raise ₹15,000-20,000 crore in its maiden InvIT offer and then go for a larger round, depending on the response it receives from investors, according to Shri Nitin Gadkari, Union Minister for Road Transport and Highways. The government has also secured funds from domestic lenders in coordination with RBI for long gestation projects. For instance, State Bank of India has assured the government a sum of Rs 50,000 crore.