India expects $5-billion investment in road sector

The country's road development programme will see a huge investment from Canada over the next three to four years

India expects a big investment of $5 billion (around Rs22,800 crore) from Canada in the country's road development programme over the next three to four years, road transport and highways minister Kamal Nath has told PTI.

"I am looking at Canada looking beyond NAFTA," Mr Nath said after meeting with top Canadian ministers and executives of financial institutions here yesterday.

"Canadian pension funds and financial institutions are actively considering participating in the National Highway Development Project (NHDP)," he added.

Mr Nath said that of the $40 billion needed from the private sector for the road programme, about $10 billion is likely to come from foreign funds. "We expect $5 billion from Canada. The Indian government will put as many as nine
mega-projects up for bidding in the next two months,” the minister said.

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