NHAI to set up Infrastructure Investment Trust
A new company is being set up to act as the investment manager
The National Highways Authority of India (NHAI) is in the process of setting up an Infrastructure Investment Trust (InvIT) with an aim to facilitate investment in the highway sector.
As part of the structure, a new company is being set up to act as the Investment Manager to the proposed InvIT.
NHAI InvIT shall be the first InvIT to be sponsored by any government or semi-government entity in the country.
In order for selection of appointment of two independent Directors and one Chairman for the Investment Manager Board, a search-cum-selection committee has been formed.
Sukhbir Singh Sandhu, chairman, NHAI is the Convenor of the Committee and other members include Deepak Parekh, Chairman, Housing Development Finance Corporation; Girish Chandra Chaturvedi, Chairman, ICICI Bank; and Sanjay Mitra, Ex-Secretary, Ministry of Road Transport & Highways.
The idea is to set up a competent entity of experts that can professionally run the Infrastructure Trust to mobilise resources from the market for monetising completed highway projects of NHAI.