NHAI Signs MoU with SBI for Long Term unsecured Loan of Rs 25,000 Crore

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National Highways Authority of India, NHAI today signed an MoU with the State Bank of India for a long-term unsecured loan to the tune of 25 thousand crore rupees.

This is SBI’s highest long-term unsecured loan to any entity and also the largest ever loan sanctioned to NHAI. The total sanctioned amount is to be disbursed within 31st March 2019.

Road, Transport and Highways Minister Nitin Gadkari was present during the signing ceremony at an event in New Delhi. Mr Gadkari said, road construction will be 40 kilometres per day from next year.

Mr Gadkari said, India is the fastest growing economy and infrastructure has been given a topmost priority.

The Minister said, good road infrastructure can help reduce the number of accidents in the country.

 

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TheDispatch Staff