Enough funds for road building, says Gadkari

With the National Highway Authority of India having received a mandate from the budget to raise Rs 70,000 crore through infrastructure bonds and easy availability of  low cost overseas loans for the AAA rated NHAI, the government’s road and highway building programme  has enough cash to build the crucial infrastructure, Road Transport, Highway and Shipping Minister Nitin Gadkari told ASSOCHAM.TV in a recent interview.

gadkari“We have signed the contracts worth Rs five lakh crore for   infrastructure, roads, ports. It is a very remarkable contribution from our investors…we do not have any problem, we are receiving public, private investment, we are receiving good response for the Public-Private Partnership, Build-Operate-Transfer and hybrid annuity (models)”, Gadkari said.

He pointed out that as many as 101 projects are ready for take off in the roadways sector. “For NHAI, triple AAA rating is there. We already have permission from the Finance Minister for raising Rs 70,000 crore infrastructure bonds…My toll income is Rs 10,000 crore per year.  So, I can monetize for 15 years (and) I get Rs 2 lakh crore . There are 101 projects which are ready with where I am going to monetize and I will get Rs 1.25 lakh crore.. so money is not the problem.”

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