Kamal Nath invites Canadian investors for NHDP
In an effort to attract foreign investors, Road Transport and Highways Minister Kamal Nath has invited financial institutions and Pension Funds in Canada to participate in the National Highway Development Project (NHDP). The minister who was on a state visit to Canada met some of the leading long term debts as well as equity investors including Empire Financial Group, Aviva Investors, Aegon Capital Management Incorporation, Ontario Teachers Pension Plan Board, Hospitals of Ontario Pension Plan, TD Asset Management Incorporation, Fairfax Financial Holdings Limited, BMO Capital Markets, CI Investments, and RBC Global Investment Management.
Emphasising on needs of fund to achieve the target of constructing 20 km of National Highways a day, Nath said it would require an investment of about US$70 billion. “The private sector will have a bigger role with about US$45 billion to be sourced from them,” he said.
The minister highlighted the massive opportunity for Canadian investors as 60% of the highway projects are being undertaken on BOT (Toll) and 25% on BOT (Annuity) basis, and invited the private entities to come forward and become a partner in propelling one of the fastest growing engines of global economy.
Appreciating Indian government’s some of the recent steps to simplify MCA and procedural impediments, Canadian companies had shown their keen interest in participating in the National Highway projects.