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UK firms keen to invest on Indian roads

UK firms keen to invest on Indian roads
PTI
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First Published: Wed, Jan 26 2011. 06 59 PM IST
Updated: Wed, Jan 26 2011. 06 59 PM IST
New Delhi: UK-based infrastructure firms Balfour Beatty, CA Traffic and Mott MacDonald have expressed their interest to invest in India’s booming road and highways sector.
“CA Traffic and Mott MacDonald have shown interest in the tolling business and Balfour Beatty is keen to set up road projects in India,” a road ministry official said.
However, the amount of investment to be made by these companies could not be ascertained, as their proposals are at a nascent stage.
The National Highways Authority of India (NHAI) has targeted the construction of 35,000 km of highways over five years under the National Highways Development Programme (NHDP).
Under the NHDP, the government plans to set up mega-road projects of 500 km at a cumulative investment of about Rs 5,000 crore in order to facilitate speedy transit of passengers and goods across the country.
The NHAI and United Kingdom Trade and Investment (UKTI) recently signed an agreement for trade and investment in the roads and highways sector in India.
UK secretary of state for Business, Innovation and Skills Vince Cable had said there are many British companies that want to invest heavily in India’s booming infrastructure sector.
The agreement covers the operational, construction, equipment and engineering requirement.
The objective of the agreement is to maximise cooperation in trade and investment between the two countries.
It also aims to stimulate business activities and facilitate technical knowledge-sharing between public and private sector enterprises, business organisations and professional institutions in both countries.
Following the signing of the agreement, then-minister of road transport and highways Kamal Nath had invited British engineering consultants to offer their services in India.
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First Published: Wed, Jan 26 2011. 06 59 PM IST