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EPFO in Talks with NHAI to Enhance Funding for Road Projects - Officials

Infra News - Published on Tue, 10 Sep 2019

Image Source: TOI
ET reported that retirement fund body Employees’ Provident Fund Organisation, which burnt its hands with investments in IL&FS and Dewan Housing Finance Corporation Ltd, has initiated talks with National Highways Authority of India to enhance funding for highways. While EPFO has already invested around INR 10,000 crores via NHAI bonds this year, executives from the retirement fund body met highways minister Mr Nitin Gadkari recently and evinced interest in enhancing the corpus.

Two people aware of the matter said that the NHAI is in talks with EPFO, which is looking to invest longterm funds in the road sector.

A source closely associated with the development told ET that officials from EPFO met road transport and highways minister Mr Nitin Gadkari recently and expressed their inclination to enhance funding to NHAI. They are looking to invest a larger amount now, given they have a huge appetite to invest. EPFO had invested about INR 1,300 crore in DHFL bonds five years ago and has now sought early redemption of about INR 600 crore worth of DHFL bonds floated from the cash-strapped housing finance company.

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Posted By : Sanju Moirangthem on Tue, 10 Sep 2019
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