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LIC to Lend INR 25,000 Crore to NHAI to Fund Highways Projects – Mr Sinha

Infra News - Published on Tue, 23 Jul 2019

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LiveMint, citing Mr NN Sinha chairman of NHAI, reported that Life Corporation of India will lend as much as INR 25,000 crore to National Highways Authority of India in the ongoing financial year to fund highway projects. We are in talks with LIC to raise around INR 25,000 crore. NHAI will raise funds from the insurer by issuing bonds. The highways authority plans to raise INR 75,000 crore from the markets in the 2019-20 financial year to fund key infrastructure projects such as Bharatmala. Besides, raising funds from the market, the government has allocated INR 36,691 crore to NHAI as budgetary allocation this year.

Without divulging further details, Mr Sinha said that NHAI is working with National Infrastructure Investment Fund to fund large greenfield projects. Along with this, he said that an infrastructure investment fund mutual fund like instruments that enable investment in infrastructure sector by pooling small sums of money from several individual investors will also be floated by December, which will soon get approval from the Cabinet.

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Posted By : Mohan Sharma on Tue, 23 Jul 2019
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