Business Daily from THE HINDU group of publications
Saturday, Aug 08, 2009
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Business Daily from THE HINDU group of publications Saturday, Aug 08, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Foreign Direct Investment Logistics - Roadways $10-b FDI to come into road sector in next 2 yrs: Kamal Nath 
The Transport Minister, Mr Kamal Nath, and the SAIL Chairman, Mr Sushil Kumar Roongta, at ‘Converging India Leadership Summit 2009’ in the Capital on Friday. Our Bureau New Delhi, Aug. 7 The Minister of Road Transport and Highways, Mr Kamal Nath, on Friday said that the road building sector in India would receive $10 billion (Rs 47,950 crore) of foreign direct investment within the next two years. “I’m confident of bringing foreign investment into building roads and highways in India. “The country is still an attractive destination for foreign investments,” said Mr Nath. He said that to make the change to building 20 km of roads a day from the current 2 km of roads a day, massive capacity building needs to be done. Mr Nath said that the Ministry had formulated a work plan for the next two years aimed at achieving the goal of 7,000 km of road construction a year. Speaking at the Converging India Leadership Summit 2009, organised by the Indian Chamber of Commerce, the Minister gave reassurances that the bidding process for National Highway Authority of India (NHAI) projects this time will go more smoothly than last time. Mr Nath said that by the end of this year, Rs 1 lakh crore worth of bids should be received and work would start on 11,000 km of roads. More Stories on : Foreign Direct Investment | Roadways
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