NIIF to invest equity in road projects in India

NEW DELHI: National Investment and Infrastructure Fund (NIIF) has entered into an agreement with the national highways building authority to invest equity in road projects, a move that will help the government fill the gap in funding the sector.

NIIF on Monday signed an MoU with the national highways authority of India (NHAI) to form a special purpose vehicle (SPV) to execute fund arrangement for large sized road projects, particularly green field, which will be executed by NHAI.