National Highways Authority of India will establish InvIT

National Highways Authority of India will establish InvIT

The National Highway Authority of India (NHAI) will establish an Infrastructure Investment Trust (InvIT) with the objective of enabling investments in the highway sector. The government will establish a new company as part of the structure that will act as the Investment Manager to the proposed InvIT.

Key Points:

• The importance of a professional management structure for managing investment is necessary since NHAI InvIT will be the first InvIT that has been financed by any government or semi-government organisation.
• The government has also formed a search-cum-selection committee for the selection of the best talents from the markets who can be appointed to the two posts of Independent Directors and one Chairman of the Investment Manager Board.
• The members of the committee include Dr Sukhbir Singh Sandhu, Chairman of NHAI as the convenor of the committee, Shri Sanjay Mitra, Ex-Secretary, Ministry of Road Transport & Highway, Shri Girish Chandra Chaturvedi, Chairman, ICICI Bank and Chairman of Housing Development Finance Corporation, Shri Deepak Parekh.
• The objective of the committee will be to establish a competent institution comprising experts who can run the Infrastructure Trust professionally and mobilise the market resources to monetise completed Highway Projects of NHAI.