Gadkari: Cos should float NBFCs to fund construction works

PTI

New Delhi, April 19

Union Road Transport and Highways Minister Nitin Gadkari on Tuesday said infrastructure companies should also float their own non-banking financial companies (NBFCs) to fund road construction related projects.

Gadkari further said the National Highways Authority of India should also have a financial arm like the Power Ministry’s Power Finance Corporation or the Railways Ministry’s Indian Railways Finance Corporation.He was speaking at an Assocham event here. He emphasised the need to develop an innovative financial model for the highway sector. —

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