NEW DELHI: The country's highways sector is attracting attention of global investors as China's largest rail and road construction company, China Rail Construction Corporation (CRCC) is keen to invest Rs 20,000 to Rs 30,000 crore in highway projects.
The company with annual turnover of $100 billion and market capitalization of around $250 billion is likely to bid for both government funded and public private partnership (PPP) projects, said an official of the national highways authority of India (NHAI). The Chinese company has built almost 80% of the country's rail network and 60% of its highways. NHAI officials said that a team led by CRCC's chief economist Zhao Jinuha met officials from the highways authority on Monday and pored through information on projects, traffic growth and issues linked to finances. "They are interested to bid for 2,000-3,000 km of highway projects, which is a positive sign for us," NHAI chairman Raghav Chandra said.
The government has lined up for upgradation of 50,000 km two-lane national highways and expressway projects of around 15,000 km over the next few years. "We also expect to gain from the technology in laying highway networks expeditiously. It's not just the Chinese, even investors and companies from other countries including Malaysia and United States are keen to take up works here. The recent policy reforms have made the sector more attractive," said an NHAI official.
In a release, NHAI said that CRCC wanted to know whether India would accept Chinese technology. "We have informed them that any technology or standard is acceptable only if they are higher than the prescribed standards of the Indian Road Congress," the release added.
Highways minister Nitin Gadkari, who is in the United States, told investors it was " a golden opportunity" to invest in India.
Canada - 6 hours ago
High time India played hardball with these treacherous thugs. No Chinese company should be allowed to undertake any contract work in India. At the same time cut off all cheap and shoddy Chinese exports from China. Hit them in the pocket book!
Corrupt Quit India
In India, there are numerous road construction contractors, Give job to Indians. Why go to China or any other country??
We shouldn''t even consider them, besides their quality is real bad. Normal roads last for 40 years, in China they last for only 20 years so it''s a giant waste of money to buy bad quality Chinese infrastructure.
Will it be Use and Throw? Chinese products are not at all reliable!!
No! India doesn''t accept China offer to build its raods.
India is capable enough to build the highway''s.....Chinkies go and build highways in ur all time moron frnd nation porkistan
First return our land and then get qualified
DO NOT EVEN ALLOW THEM TO BID
Since China was at war with India in 1962 and occupied vast land they should be disqualified from contracts
India will give contract also. We have redefined stupidity.
Why to take help of outsiders to build Indian roads? Project should be given to some Indian.company.
Sorry we do not need Chinese engineering to build our roads
No way! No benefit to Chinese company till they support and we get inducted into NSG.
Are Indians good for Nothing??