NHAI to raise ₹75,000 cr this fiscal; ties up with NIIF for funds

The National Highways Authority of India (NHAI) has to mobilise ₹75,000 crore this year, against ₹61,000 crore last year. The funds will be routed to construct highways under the Bharatmala project. The NHAI and National Infrastructure Investment Fund (NIIF) on Monday signed an MoU, which will allow NIIF to route international funds to NHAI. As per the broad contours, the two organisations will form a special purpose vehicle, through which NIIF will route funds to specific projects of NHAI. NIIF, which had bid for first toll-operate-transfer (TOT) project of NHAI but did not win it, is open to participating in various projects including hybrid annuity projects.