NHAI`s first Masala Bond in UK |
India`s Union minister for road transport and shipping Nitin Gadkari rang the opening bell at the London Stock Exchange while flagging off NHAI rupee-denominated offshore bond offer targeted at raising capital for India`s infrastructure projects. India gives the highest priority for infrastructure development. Her economy is the fastest growing in the world. NHAI is a flagship organisation, with AAA rating and we have many big projects to offer, Gadkari said at the LSE market opening ceremony. The NHAI is financially a very strong organisation. This is the first time it has entered the Masala Bond market and he is confident of a good response. The total infrastructure picture in India is changing very rapidly and she needs financial support from international investors. India can guarantee that all her projects are economically viable, with good rate of return. Gadkari pointed to a hike in road construction figures, from just 2 kilometres per day when he took charge of the transport ministry to 23 kilometres a day at the end of March 2017. He said that India had 52 lakh kilometres of road length out of which only 96,000 kilometres is the national highway, meaning that 40 per cent of the country`s traffic is concentrated on just 2 per cent of the roads.
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