India seeks foreign investors for $20.6 bn road projects
In order to attract foreign investment for road projects in India, the government will hold a road show in Zurich, Switzerland, on Tuesday.delhi Updated: Aug 10, 2009 22:50 IST
In order to attract foreign investment for road projects in India, the government will hold a road show in Zurich, Switzerland, on Tuesday.
The show, being organised in association with the Confederation of Indian Industry (CII), ICICI Bank, JM Financial Consultants and Swiss-Indian Chamber of Commerce, will be inaugurated by Road Transport and Highways Minister Kamal Nath.
The road show will seek investors for 135 road projects with an estimated cost of $20.68 billion, a government statement said Monday.
"We have done a road show in Singapore last month and now it will be Zurich and I am very hopeful that these roadshows will attract all desired foreign investment," Kamal Nath told reporters here last week.
"I am also planning to re-consider the termination clause of the project so that more investors can come," he said.
As per government estimates, the road sector requires an investment of about $70 billion by 2012.
Of this, the private sector participation is expected to be about $41.05 billion, while $10 billion is likely to come from from foreign investors (both equity and debt).