2016 | Septiembre 14
Huge sums locked in arbitration or legal tangles have slowed down private sector investments in the country’s road sector in the past two years, according to a Yes Bank report released on Tuesday.
“This has led to an increase in the number of stalled projects. PSUs and public institutions corresponding to arbitration claims is seen over Rs 70,000 crore,” states the Yes Bank report titled ‘Redefining India’s Infrastructure.’
The report comes as the government is working to revive the sector and has set an ambitious target of achieving 2 lakh km of national highways to connect the commercial hubs across the country. It is aiming for 25,000 km of roads in FY17. It also plans to invest USD 95 billion in the road sector in the next five years.