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NHAI raises Rs.8,500cr
The #National Highway Authority of India (NHAI) has raised Rs.8,500 crore for road expansion and bypass projects. The funds are raised from #Life Insurance Corp of India (LIC) for 30 years at an interest rate of 7.22 per cent per annum.
NHAI is seeking Rs.1 lakh crore funding for building 7,000 km of roads.
NHAI has bid out 5,000 km of roads, costing about Rs.75,000 crore in the first eight months of this year.
Further fund raising plans include Rs.7,000 crore through #masala bonds. fii-news.com
