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Three avenues will be made available through InVIT to raise funds: Nitin Gadkari

Three avenues will be provided to raise funds through the Infrastructure Investment Fund (InVIT) afterward National Highways Authority of India (CHAI) according to the Minister of Transport Nitin Gadkari. Speaking at JPMorgan India Investor Summithe said that a good response is also expected for the same.

“We (NHAI) will access capital markets. I’m trying to get investment from ‘small people’, credit cooperative associations, urban cooperative banks in the country,” said Gadkari.

He said this is the first time the center has tried this product line.

In August of this year, Gadkari said that NHAI will launch capital markets next month. He said that there will be an investment limit of Rs 10 lakh per retail investor, with a guaranteed return of 7-8%.

He said that the center is planning to build a new bridge worth Rs 50,000 which will connect Virar with the Mumbai-Delhi highway. Gadkari also says that Maharashtra government is making a road from Worli-Bandra to Virar.

Speaking earlier in the day at the 49th All India Management Association (AIMA’s) Gadkari . National Management Convention argues that public transport should be encouraged with centers and states working together.

He also emphasized the diversification of agriculture into the energy and electricity sectors and the use of alternative fuels such as bioethanol and bio-compressed natural gas (CNG).

At another event also on Tuesday, Gadkari said a decision had been made to make 27 green highways to reduce travel times. He hopes that by the end of December there will be new highways that will reduce travel time from Delhi to places like Chandigarh, Amritsar, Katra, Srinagar, Mumbai and Jaipur.

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