Life Insurance Corporation (LIC) has offered a credit line of Rs 25,000 crore to the National Highways Authority of India (NHAI) for funding highway projects.
It is learnt the funds will be raised for 30 years and the interest rate will be revised every 10 years.
According to an official, this means a longer tenure, which is needed for infrastructure projects. LIC Chairman M R Kumar recently met Union Roads and Highways Minister Nitin Gadkari with the proposal.
“The borrowing will be in the form of bonds to be issued by the NHAI,” said a person in the know. This debt raising …