Financial Institutions may shy away from funding Delhi-Jaipur expressway if land not acquired

By IVCPOST Staff Reporter

Jul 12, 2013 08:08 AM EDT

Road Minister Oscar Fernandes said that a major portion of the land to be used in the proposed Delhi-Jaipur expressway deal should be handed over. If not, financial institutions could shy away from funding the project.

The National Highways Authority of India (NHAI) and the Ministry of Road Transport planned to build an expressway. The transaction was priced at INR14000 million and was proposed to be built to the Pink City. The project was aimed to decongest the long route of the journey.

Fernandes said that the construction cannot start unless 60% of the land is handed over. He added that financial institutions will not lend the needed amount ending the statement without elaborating further. He did not also drop names of the said financial institutions. Fernandes also added that there were more expressways to be built. However the projects are put on hold as lands needed to be acquired prior to the funding that would signal the start of construction.

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