NHAI ropes in experts for developing new financing approaches

NHAI has started working on new strategies to tap long-term investments from different sources including insurance, pension and foreign funds and also to get soft loans from multilateral agencies such as the World Bank, the Asian Development Bank and the New Development Bank. The intense exercise has started amid clear indications of a fall in toll revenue, reduction in fuel cess and a subdued response to the monetisation of completed highway projects. NHAI has roped in a team of experts recommended by the World Bank and another external expert as a financial adviser. The group of experts will carry out a background review, compile data and develop new financing approaches in the current financial horizon, including identification of required investment and potential investors, and provision of credit risk mitigation support. Meanwhile, NHAI expects to receive funds to the tune of Rs 500 billion from the National Investment and Infrastructure Fund for the Delhi-Mumbai Expressway project.