Govt seeks foreign pension funds investment into infra sector

Efforts are on to attract US, Canadian and Japanese pension funds into the country's infrastructure sector including highways, Union Minister Nitin Gadkari said today.
"We have approached American, Canadian and Japanese pension funds to invest in infrastructure here. Loans are available at low interest globally. Taking loans at low interest rates is our priority and we plan record breaking work in the highways sector," Road Transport and Highways Minister Gadkari said.
Launching E-magazine of the National Highways Authority of India (NHAI) - 'Rajmarg' here, Gadkari said he will be visiting Japan and holding talks with the government there to attract such funds.

He said the Centre has already announced that pension and insurance funds could be invested in infrastructure.
He said NHAI was being revamped and NHAI International was also on the anvil and the Ministry has already been approached by some nations to build highways there.
On NHAI's E-magazine, he said it was a giant step towards e-governance in the highways sector in line with Prime Minister Narendra Modi's Digital India initiative and will make the sector transparent and efficient.

"E-newsletters are an effective mechanism for growing a relationship with a cross section of the society in tune with Prime Minister's mantra of 'Sab Ka Saath Sab Ka Vikas' in the NDA government's collective resolve to improve road transport infrastructure and achieve the ambitious target of building 30 Kms of roads per day in the next two years," he said.

Earlier such initiative to bring cement makers and buyers in a portal together has started showing results and one lakh tonne cement for concrete roads for various projects has been booked online by contractors.
This will result in savings to the tune of about Rs 5,000 crore, Gadkari said adding the cement bags were available at a price of Rs 120 to Rs 140 a bag, much cheaper than over Rs 300 a bag in the market. Over 260 contractors have already got themselves registered on the site, he said.
Last month he had said thirty six cement makers have assured supplies of 95 lakh tonnes at prices lower than market rates for road building in the country.

Gadkari said his Ministry also planned to make massive plantations along the National Highways as it will turn the roads into "green highways" and 150 to 200 contractors will be roped in for plantation and maintenance which in turn will create employment and ease pollution.
On National Green Tribunal's ban on over-ten-year-old diesel vehicles in the city, he said Centre will approach the Supreme Court and seek at least six months' time, as two weeks by NGT is grossly insufficient.
He said the government will look into the matter whether diesel vehicle could be fitted with CNG or find out any other solution keeping in interest of those who bought diesel vehicles with 15-years guarantee.