HONG KONG, March 22 (Reuters) - India may consider a partnership with China for road and high-speed rail projects, an Indian government official said.
Kamal Nath, India's Minister of Road Transport and Highways, made the comment at the Credit Suisse Asian Investment Conference in Hong Kong on Monday.
India is inviting overseas participation in the country's road projects. In July last year, Nath said he expected foreign investors to fund half of the $20 billion per year earmarked for road construction and was seeking investment from pension funds and private equity.
India will need to spend $70 billion building roads over the next three years as it looks to infrastructure spending to stimulate demand and boost the economy. Of the total, $40 billion could come from private investors, with a quarter of that coming for overseas.
((Reporting by Donny Kwok; Editing by Chris Lewis))
((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters Messaging: donny.kwok.reuters.com@reuters.net)) Keywords: ASIA INVESCONF/INDIATRANSPORT (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Kamal Nath, India's Minister of Road Transport and Highways, made the comment at the Credit Suisse Asian Investment Conference in Hong Kong on Monday.
India is inviting overseas participation in the country's road projects. In July last year, Nath said he expected foreign investors to fund half of the $20 billion per year earmarked for road construction and was seeking investment from pension funds and private equity.
India will need to spend $70 billion building roads over the next three years as it looks to infrastructure spending to stimulate demand and boost the economy. Of the total, $40 billion could come from private investors, with a quarter of that coming for overseas.
((Reporting by Donny Kwok; Editing by Chris Lewis))
((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters Messaging: donny.kwok.reuters.com@reuters.net)) Keywords: ASIA INVESCONF/INDIATRANSPORT (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.