India expects $5-b. Canadian investment in road sector

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Toronto: India expects a big investment of $5 billion (around Rs. 22,800 crore) from Canada in the country’s road development program over the next three to four years, Road Transport and Highways Kamal Nath has said.
“I am looking at Canada looking beyond NAFTA,” Nath said after meeting with top Canadian Ministers and executives of financial institutions here on March 30.
“Canadian pension funds and financial institutions are actively considered participating in the National Highway Development Project (NHDP),” he added. Nath said that of the $40 billion needed from the private sector for the road program; about $10 billion was likely to come from foreign funds.
The government has also looked into tapping sovereign wealth funds, insurance companies and others looking for long-term investment opportunities.

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