NEW DELHI: The National Highways Authority of India (NHAI) and National Infrastructure Investment Fund (NIIF) on Monday signed an MoU to bring big ticket foreign investment in the road sector.
NHAI would need to mobilise Rs 75,000 crore this year to meet its fund requirements. It has to also tap more private investment to go ahead with its plan of highway expansion. As per the broad contours, the two organisations will form a special purpose vehicle (SPV), through which NIIF will route funds to NHAI’s specific projects.
The MoU could bring in more than Rs 50,000 crore in one SPV, officials said.
NIIF, which had bid for the first toll-operate-transfer (TOT) project of NHAI but did not win it, is open to participating in various projects including hybrid annuity ones.
