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NHAI likely to invite bids for 60-70 projects

NHAI likely to invite bids for 60-70 projects
PTI
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First Published: Tue, Jul 07 2009. 02 49 PM IST
Updated: Tue, Jul 07 2009. 02 49 PM IST
New Delhi: The National Highways Authority of India, or NHAI, is mulling to invite bids for 60-70 projects this fiscal year for construction of 7000-8000 km of highways.
“For the entire financial year (2009-10), we are looking at about 60-70 projects that we will be able to put out and get awarded, which means we are talking of about 7000-8000 kms of projects that will be bid out,” NHAI member-finance A Didar Singh told CNBC TV18 news channel.
With the interest rates coming down in the country, private companies are showing more interest in bidding for roads and highways projects, he said.
Singh said, “We have lower cost of financing now available in the market and this is being reflected in the fairly large amount of interest in the new projects that we are putting out. We have a larger number of Expressions of Interest for the projects we are putting out now.”
He added that there was an “aggressive” response from private companies for the highway projects in the beginning for the last fiscal but their sentiments weakened after the cost of financing went up in the wake of the global meltdown later.
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First Published: Tue, Jul 07 2009. 02 49 PM IST
More Topics: NHAI | Roads | Highways | Finance | India |