Govt to raise Rs 2,500 crore for three road projects through capital market

The government will approach the capital market this month to raise around Rs 2,500 crore to fund three road projects, a senior official said on Monday.

The money will be raised through Infrastructure Investment Trusts (InvITs), the government official added.

"We will be approaching the capital market this month to raise around Rs 2,500 crore for the three road projects," he told PTI on the condition of anonymity.

Infrastructure Investment Trusts (InvITs) are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time.

Last year, the National Highway Authority of India's first infrastructure investment trust raised more than Rs 5,000 crore.

"NHAI InvIT attracted two international pension funds, Canadian Pension Plan Investment Board and Ontario Teachers' Pension Plan Board, which along with diversified DIIs invested units worth more than Rs 5,000 crore in InvIT portfolio, which has curren