“I am looking at Canada looking beyond NAFTA,” Nath said after meeting with top Canadian ministers and executives of financial institutions here March 25.
“Canadian pension funds and financial institutions are actively considering 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 is likely to come from foreign funds. “We expect $5 billion from Canada. The Indian government will put as many as nine mega projects up for bidding in the next two months.”
“Both countries are working on a memorandum of understanding expected to be sign within three months that aims to facilitate transfer of Canadian know-how, technology with respect to highway management, road safety, vehicle safety, and private investment by high profile Canadian financial institutions,” Nath said. Read More