LIC offers Rs 25,000 cr credit line to NHAI for funding highway projects

Life Insurance Corporation (LIC) has offered a credit line of Rs 25,000 crore to the National Highways Authority of India (NHAI) for funding highway projects.   It is learnt the funds will be raised for 30 years and the interest rate will be revised every 10 years. According to an official, this means a longer tenure, which is needed for infrastructure projects.   LIC Chairman M R Kumar recently met Union Roads and Highways Minister Nitin Gadkari with the proposal.   “The borrowing will be in the form of bonds to be issued by the NHAI,” said a person in the kno.....

Key stories on are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.