Central government to create new entities for global projects and expressways

The central government is planning to create two new entities – NHAI International and Express Highways – under NHAI, in the form of special purpose vehicles (SPVs) focused on international projects and expressways. These entities will be developed along the lines of National Highways and Infrastructure Development Corporation Limited (NHIDCL). Once incorporated, NHAI International will execute projects in Sri Lanka, Nepal, Bangladesh, Iran and some African countries. Earlier, countries such as Sri Lanka and Nepal had approached the authority for the construction of highways. While NHAI’s board has already approved the formation of NHAI International, the proposal to set up an expressway arm is yet to be approved. The creation of this SPV will help focus attention on the construction of expressways in the country.

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