India, Dec. 12 -- The government on Wednesday gave its nod to the National Highways Authority of India (NHAI) to set up Infrastructure Investment Trust (InvIT) and monetise national highway projects.
InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time.
"The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to the proposal of Ministry of Road Transport and Highways, authorising NHAI to set up InvIT as per InvIT Guidelines issued by SEBI," the Ministry of Road Transport and Highways said in a statement.
This will enable NHAI to monetise completed national highways that...