New Delhi: Life Corporation of India (LIC) will lend as much as ₹25,000 crore to National Highways Authority of India (NHAI) in the ongoing financial year to fund highway projects, chairman of the highway authority N N Sinha said. “We are in talks with LIC to raise around ₹25,000 crore," Sinha told reporters here. The highways authority plans to raise ₹75,000 crore from the markets in the 2019-20 financial year to fund key infrastructure projects such as Bharatmala. Besides, raising funds from the market, the government has allocated ₹36,691 crore to NHAI as budgetary allocation this year. Without divulging further details, Sinha also said that NHAI is working with National Infrastructure Investment Fund (NIIF) to fund large greenfield projects.

Source: Mint July 19, 2019 18:11 UTC