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Foreign Funds flow into Indian Highway Constructions

  • A consortium led by Canada’s Brookfield Asset Management offered ₹3,000 crore to buy nine project from Gammon India.
  • A top Singaporean firm is executing negotiations on various projects with a South India-based developer.
  • Sovereign wealth funds and private developers from the UAE also expressed their alacrity to buy completed highway projects in India.
  • The highways ministry has decided to tackle the issues like regulatory delays, land acquisition issues, drying up of bank finances, and a pile-up of stressed assets on priority basis.
  • The government has decided not to roll out highway projects until they have 80% land in their possession and all the clearances are in place.
  • This will help for faster project execution, and also tighten up the grip for developers trying to find an excuse for cost and time overruns.

Source: ET

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