India's infrastructure sector needs $90 bn in 5 years: Kamal Nath
Road Transport and Highways Minister Kamal Nath on Friday said that India's infrastructure sector needs $90 billion investment in the coming five years.business Updated: Jul 02, 2010 23:11 IST
Road Transport and Highways Minister Kamal Nath on Friday said that India's infrastructure sector needs $90 billion investment in the coming five years.
"We are seeing a lot of interest in investment in infrastructure sector in India. The demand is there for roads. The auto sector is growing at 30 percent," he told reporters on the sidelines of the annual general meeting of Indian Chamber of Commerce.
"The country needs $90 billion investment in infrastructure sector in the coming five years, of which $45 billion will be from the private sector. I think 20 per cent of that will be foreign investment," he added.
Talking about the road sector, the minister said: "We are not building for the future, we are catching up with the past."
The government plans to build 24,000 km road across the country by end of 2010-11.
"We close this year with 11,500 kilometres work in hand, we will award 12,000 kilometres. By the end of 2010-11, we will have 24,000 kilometres and it is all across the country and this is only national highways," he said.
The government is confident of building 20 kilometres road per day, the minister said.