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.

In order to attract foreign investment for road projects in India, the government will hold a road show in Zurich, Switzerland, on Tuesday.

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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).