Ministers’ panel to explore road,highways financing

An Empowered Group of Ministers will meet later this month to explore financing options for highways projects,Transport Minister Kamal Nath said on Wednesday.

According to government estimates,the road infrastructure sector,key to economic growth,requires around USD 80 billion (Rs 3,76,000 crore) in the next four years.

Nath said the EGoM being set up would “examine how External Commercial Borrowings (ECBs) can be accessed for the road and highways sector at easier terms.”

The EGOM would include Finance Minister Pranab Mukherji,Planning Commission Deputy Chairman Montek Singh Ahluwalia and Nath.