NHAI creates National Highways Investment Promotion Cell

National Highways Authority of India (NHAI) has created an investment promotion cell, NHIPC, to attract domestic as well as overseas investments.

The creation of the cell follows launch of Bharatmala Pariyojana that will require an investment of Rs 5.35 lakh crore in the next five years.

"The NHAI created a National Highways Investment Promotion Cell (NHIPC) for attracting domestic and foreign investment for highways projects," the Ministry of Road Transport and Highways said in a statement.

The cell will focus on engaging with global institution investors, construction companies, developers and fund managers for building investor participation in road infrastructure projects.

The government has set an ambitious target of construction of 35,000 km of National Highways in the next five years involving an investment of Rs 5.35 lakh crore under 'Bharatmala Pariyojana' and given "the scale of investment required, both foreign and domestic investment from public and private sector is pivotal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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