NHAI inks deal with NIIF for funding of highway projects
National Highways Authority of India (NHAI) on Monday inked a deal with quasi-sovereign wealth fund National Investment Infrastructure Fund (NIIF) to fund large greenfield road projects, which will be executed by the highway authority in the future.
In 2015, Centre had set up NIIF to fund commercially viable greenfield, brownfield and stalled projects, thereby giving boost to the country’s infrastructure sector.
“This arrangement of innovative alternate source of funding is being looked into by NHAI to attract international investors and fund houses who are willing to invest in road projects in India but not very keen to take risk related to the project execution,” the road transport and highway ministry said in a statement.
