September 17, 2009 11:21 AM

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Kamal Nath for foreign investment in road construction

Transport Minister Kamal Nath has called for foreign investment in the construction of roads and other infrastructural projects in India. Kamal Nath told this to Indian media after concluding his week-long tour to the United States.br/He said roads in India are not merely a matter of connectivity but is an important component of inclusive growth, adding that the new road program, announced by Prime Minister Manmohan Singh on15th August, aims to lay down 20 kilometers of road everyday.br/The total project costs for 2009-2010 is estimated at 20 billion USD and both debt equity and pension funds are being invited to participate in this program. The share of private sector investment in this will be about USD 12 billion.br/Mr Kamal Nath also announced the construction of at 18,000 km of expressways in the country. The minister has also negotiated a project with the World Bank for USD three billion to transform 6,300 km of single lane roads into two lane highways.

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