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In A Bid To Attract Domestic And Foreign Investment, NHAI Sets Up National Highways Investment Promotion Cell
<p>The Kasara Ghat on the Mumbai-Agra National Highway (Abhijit Bhatlekar/Mint via Getty Images)</p>
The National Highways Authority of India (NHAI) has created an investment promotion cell – the National Highways Investment Promotion Cell (NHIPC) – to attract domestic as well as overseas investments.
The creation of the cell follows the launch of the Bharatmala project that will require an investment of Rs 5.35 lakh crore in the next five years.
"The NHAI created a National Highways Investment Promotion Cell (NHIPC) for attracting domestic and foreign investment for highways projects," the Ministry of Road Transport and Highways (MoRTH) said in a statement.
The cell will focus on engaging with global institution investors, construction companies, developers and fund managers for building investor participation in road infrastructure projects.
The government has set an ambitious target of construction of 35,000 km of National Highways in the next five years involving an investment of Rs 5.35 lakh crore under the 'Bharatmala Pariyojana' and given the scale of investment required, both foreign and domestic investment from public and private sector is pivotal. PTI
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