NHAI to raise Rs 46k cr debt in 2-3 years

17 Dec 2020 CW Team

With the view of part-financing the Rs 93,000 crore worth Delhi-Mumbai expressway (DME) project, a fully-owned special purpose vehicle (SPV) by the National Highways Authority of India (NHAI), is planning on raising Rs 46,000 crore via debt over the upcoming two or three years.

SS Sandhu, Chairman of the National Highways Authority of India (NHAI), told sources that the entire quantum of debt will be raised at the level of the Special Purpose Vehicle (SPV). Further, all the relevant borrowing will be off the NHAI’s balance sheet.

He further stated that the SPV requires borrowing slightly less than Rs 10,000 crore, but they have already received offers amounting to Rs 29,000 crore from financial institutions including banks. The chairman further said they would first wait to see who offers them the best rates and then make a decision accordingly.

For the 1,261 km expressway that is being built under the engineering procurement and construction (EPC) model, wherein the authority bears the entire expenditure, SPV-DME development has been set up. NHAI considered the idea of delivering project-specific SPVs earlier this year intending to diversify its resource base and develop an approach that is self-liquidating with the view of raising funds for these pivotal projects.

Per the proposed plan, the SPV will register the debt on its balance sheet. The NHAI, on the other hand, will be allowed to exercise operational control over the construction, operation, and maintenance of the project. NHAI has always been an accessory of the government concerning raising extra-budgetary resources reportedly had a debt of around Rs 2.28 lakh crore as of February 2020. The toll collections to be pocketed from both the existing Delhi-Mumbai stretch as well as the forthcoming expressway will be utilised in paying back the debt.

Infrastructure Urban

09 Oct 2025

VECV to Manufacture Volvo Group’s Advanced AMTs in India

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, announced an investment of Rs 5.44 billion to produce and assemble Volvo Group’s 12-speed Automated Manual Transmission (AMT). The greenfield facility will be set up at Vikram Udyogpuri Integrated Industrial Township near Ujjain, Madhya Pradesh, and will cater to India and select Asia-Oceania markets.This investment marks a new milestone in the 18-year VECV-Volvo collaboration, which has already made VECV a global hub for Volvo Group’s 5 & 8 Litre (MDEP) engines since 2013, reinforcing the Make in Ind..

Action TESA Drives Shift from Plywood to Engineered Wood Solutions

Action TESA, a leading player in India’s panel industry, is spearheading the market transition from traditional plywood to engineered wood solutions such as Moist Master, HDHMR, and Boilo. These high-performance boards are redefining modular furniture, kitchen, and decorative applications with superior durability, design flexibility, and finish quality.Engineered wood offerings from Action TESA provide consistent quality, dimensional stability, and smooth surfaces, unlike plywood, which can have knots or gaps. The Moist Master, HDHMR, and Boilo BWP FR boards ensure excellent machinability, m..

CREDAI-MCHI Donates Rs 30.65 Mn for Maharashtra Flood Relief

CREDAI-MCHI, the apex body of real estate developers in the Mumbai Metropolitan Region, has extended Rs 30.65 million to the Chief Minister’s Relief Fund to support rescue and rehabilitation efforts in flood-affected areas of central Maharashtra and neighbouring regions.The contribution was presented to Chief Minister Devendra Fadnavis by Sukhraj Nahar, President, and Rushi Mehta, Secretary, CREDAI-MCHI, in the presence of several leading developers from the Mumbai Metropolitan Region.A total of 44 member developers participated in this collective effort, underlining the real estate industry..