New Delhi, November 20 (IANS). According to information given by the Ministry of Road Transport and Highways on Thursday, NHAI is in the process of setting up ‘Highway Infra Investment Trust’ as a public investment to increase investment opportunities in road asset monetization and development of national highway infrastructure.
Under this initiative, NHAI has appointed Highways Infra Investment Managers Private Limited (RIIMPL) as the investor manager for the proposed InvIT.
According to the official statement, Highways Infra Investment Managers Pvt Ltd has been launched by NHAI Chairman Santosh Kumar Yadav. Senior officials of NHAI and representatives of partner institutions were also present on this occasion.
NHAI Chairman Santosh Kumar Yadav said, “NHAI has created a strong record in asset monetization. Over the last few years, we have successfully monetized assets worth Rs 48,995 crore through the toll-operate-transfer model. We have raised Rs 43,638 crore in four rounds of private investments, attracting large domestic and international investors.”
Giving further information, he said that in the next 3-5 years, about 1500 kilometers of ready and operational National Highways will be included in the public invitation, which will be important in bringing investment opportunities to the people of the country.
“I am sure that this initiative will play an important role in writing a new chapter of public participation in building national highway infrastructure in the country,” Yadav said.
RIIMPL is a collaborative venture. It has equity participation from leading banks and financial institutions such as State Bank of India, Punjab National Bank, NABFID, Axis Bank, Bajaj Finserv Ventures Limited, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank and Yes Bank.
The partnership aims to unlock the monetization potential of National Highway assets as well as create a high-quality, long-term investment product targeting retail and domestic investors.
–IANS
SKT/
