New Delhi, Dec. 11 -- The Union Cabinet, chaired by the Prime Minister Narendra Modi, on Wednesday, gave its approval to the proposal of Ministry of Road Transport and Highways, authorising National Highways Authority of India (NHAI) to set up Infrastructure Investment Trust(s) (InvIT) as per InvIT Guidelines issued by SEBI.
This will enable NHAI to monetise completed National Highways that have a toll collection track record of at least one year and NHAI reserves the right to levy toll on the identified highway, an official release said.
InvIT as an instrument provides greater flexibility to investors and is expected to create opportunities like generation of specialised O&M concessionaires, attract patient capital (for say 20-30 years...