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Construction : Web Exclusive | December 2013 | Source : Construction Update

NHAI to issue Rs 3,500-cr bonds in Jan

To fund its road projects partially through bonds, the National Highways Authority of India (NHAI) plans to issue bonds worth Rs 3,500 crore in January. Another Rs 12,000 crore would come as budgetary grant from the government, the NHAI said. A total of 1,500 km was expected to be awarded under the government-funded mode during the current financial year. The Union government had initially set target of awarding 5,000 km of projects on the government-funded mode this year, owing to a lack of participation from the private sector. But the target was revised as it seemed unachievable. NHAI said that the proceeds from the bond issue will be used to fund construction of road projects and the ministry will bring the remaining. There is no dearth of funds and we have already awarded 500 km earlier this year.
 
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