Retirement fund body EPFO and the life Insurance Corporation have decided to invest in NHAI bonds that the highway regulator plans for road projects, a top official on Sunday said.
“Both the EPFO and the lIC have in-principle agreed to invest in our bonds. NHAI has raised Rs 5,000 crore by selling bonds to EPFO and rates are being negotiated for further sale,” NHAI Chairman Raghav Chandra told PTI.
The Rs 5,000-crore bond sale to EPFO is part of the fund-raising plan of NHAI for highway projects. “EPFO has invested in NHAI bonds under the PSU category,” Chandra said. The authority has plans to raise at least Rs 50,000 crore in 2016-17 to meet its requirement of funds for highway projects.