NHAI's maiden infra investment trust plan unlikely to see foreign interest

The minister met bankers, foreign investors and road developers as part of a road show for the NHAI's monetisation of a third bundle of roads under the TOT model

The National Highways Authority of India’s (NHAI’s) maiden infrastructure investment trust (InvIT) plan is unlikely to see foreign interest, said road developers. In a meeting, road firms told the government they were not keen on the new build-operate-transfer (BOT) model.

“Dollars are interested in the toll-operate- transfer (TOT) model; the NHAI’s InvIT will have to depend on the Indian rupee (domestic funding),” said a road development company’s top official, who was at the meeting chaired by Nitin Gadkari, the Union minister for road transport and highways, in Mumbai on Monday.

“Foreign funds will not be comfortable investing in an InvIT,