India eyes record road expansion
* Investments in road sector to rise 40 percent in FY12: official
* India to meet target of building 20 kms a day by 2014: official
* Reforms, maturing sector attracting investors: official
The new contracts will help India meet its target of building 20 kms of roads per day as part of a massive overhaul of its infrastructure sector, boosting the country's economic growth, said J.N. Singh, member (finance) at the NHAI.
Compared to the last 4-5 years, the sector has substantially matured, Singh told Reuters in an interview.
Whichever side of India you go, you will see road building at a very hectic pace going on right now.
Overseas private funds such as the UK-based 3i and Morgan Stanley are showing a greater appetite for investing in projects while domestic constructors are getting more and more capable of taking on big projects, he said.
INVESTOR FRIENDLY REFORMS
Investments in India's road-building with the NHAI will rise about 40 percent to $10 billion in this fiscal year compared to the last, Singh said, of which about 60 percent will come from private funds.
NHAI will also aim to raise at least $445 million in bonds in the same period, he said.
An uptick in interest will give
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