Nitin Gadkari says NHAI IPO is 'in process'; raps banks' funding pace

Gadkari complained banks were taking up to 12 months to approve financial closure for highway projects

The central government might decide to list the National Highways Authority of India (NHAI) on the stock exchanges, as a way to bypass the need for bank funding. 

And, perhaps also use the engineering, procurement and construction (EPC) model for financing road construction, said Nitin Gadkari, the minister in charge. “It (NHAI IPO) is in the process now. I'm thinking, but I need approval from the finance ministry,” he said. The minister did not reveal details of a plan to list the NHAI, beyond saying he needed approval from the ministry for this. He complained banks were taking up to