Road Transport Minister Nitin Gadkari on Tuesday said the government will approach capital markets in September to raise funds for four road projects. Nitin Gadkari said the money would be raised through Infrastructure Investment Trusts (InvITs). The Union Minister said that the investment limit will be 10 lakh for retail investors.
Addressing an event of FICCI, Nitin Gadkari said, “We will approach the capital market to raise funds for four road projects… will have an assured return of 7-8 per cent.”
Infrastructure Investment Trusts (InvITs) are instruments like mutual funds, designed to collect money from investors and invest in assets that will provide cash flow over a period of time.
Nitin Gadkari said that the road ministry will once again open projects under the Build Operate Transfer (BOT) model. He said that he has set a target of taking the length of the National Highway network to 2 lakh km by 2024. At the end of November 2021, the total length of national highways in India has increased from approximately 91,287 km in April 2014 to approximately 1,40,937 km. km.
Nitin Gadkari reiterated his objective to replace the use of petrol and diesel with alternative fuels.
(with PTI inputs)
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