Finance Resources
Investment Planning
Stock Market
Futures & Options
Mutual Funds
Home » Finance News » USIBC Hosts Kamal Nath Road Show

USIBC Hosts Kamal Nath Road Show

The U.S.-India Business Council,inpartnership with the Confederation of Indian
 Industry,hosted Honorable Kamal Nath, Minister for Road Transport and Highways,
 for an intimate roundtable in America`s financial capital - focusing U.S.
 investment attention on India`s roads and highways. Minister Nath is in the
 United States for a week, capping off a world tour to revive foreign interest in
 India`s massive infrastructure development, particularly roads and highways.
 India`s road network of 3.32 million km is second only to the United States and
 is in need of major upgrades.
 India is set to launch the world`s biggest Public Private Partnership program
 that will result in the development of 15,000 km of roads and highways over the
 next three years at a cost of $70 billion (about Rs 350,000 crore). The current
 five year plan calls for $500 billion in upgrades to India`s infrastructure
 sector - with about one-third of the investment coming from the private sector.
 Speaking to USIBC`s premier engineering, construction and investment firms,
 Minister Nath said, "This is one of the most important projects the Government
 of India has ever undertaken. Roads and highways cross the country and touch
 every facet of life, as well as provide vital connectivity for trade and
 The 2009-2010 Union Budget announced a 23% increase in the country`s highway
 budget - lifting it to $4 billion. Minister Nath has presented detailed plans
 for increasing the pace of road building, up from 2 km a day to 20 km a day. The
 plans - with timelines for land acquisition, feasibility studies, bidding and
 building - envision the construction of 127 roads in the coming year, at a cost
 of $20 billion (about 982 billion rupees). Fifty percent of the projects would
 be undertaken on a "Build-Operate-Transfer (BOT)" basis.
 Accompanying Minister Nath was Mr. Brijeshwar Singh, Chairman of the National
 Highways Authority of India, which is already inviting bids for 60-70 projects
 in the current financial year for construction of 7,000-8,000 km of highways and
 is setting up an "Expressway Authority," a first for India.
 U.S. developers and construction companies have expressed concern with aspects
 of the model concession agreement (MCA), including the termination clause, exit
 clause, conflict of interest and definition of associates clauses. Minister Nath
 assured that many of these issues would be ironed-out by the end of the month
 and said institutional capacity building, feasibility studies and mega projects
 would herald a new era of development of infrastructure projects.
 The U.S.-India Business Council (USIBC), formed in 1975 at the request of the
 Government of India and the U.S. Government to deepen trade and strengthen
 commercial ties, is hosted under the aegis of the U.S. Chamber of Commerce. The
 U.S. Chamber of Commerce is the world`s largest business federation representing
 more than 3 million businesses and organizations of every size, sector and

More Finance News
1 2 3 4 5 6 7 8 9 10 11 >> Next

put comment
Domain Registration | Windows Hosting | Linux Hosting | Java Hosting | Virtual Dedicated Server | Dedicated Server | Reseller Web Hosting | Unlimited Windows reseller hosting | Unlimited Linux reseller hosting | Cheap Windows reseller hosting | Cheap Linux reseller hosting | Cheap Windows hosting | Best Windows hosting | Windows hosting Multiple Domains | Unlimited Windows hosting | Compare hosting plans | Cheap Linux hosting | Best Linux hosting | Linux hosting Multiple Domains | Unlimited Linux hosting | Cheap asp.net hosting | Best asp.net hosting | unlimited asp.net hosting | Cheap asp.net reseller hosting | Unlimited asp.net reseller hosting | Java Features | Cheap Java hosting | Best Java hosting | unlimited Java Hosting | Unlimited Linux reseller hosting | Java Hosting Multiple Domains| | Matargashti Full Song | Matargashti mp3 Download | Matargashti Video Download | Matargashti Song Tamasha | Prem Ratan Dhan Payo Songs Download | Prem Ratan Dhan Payo Songs mp3 Download | Prem Ratan Dhan Payo Songs Video Download | Pinga Song Download | Pinga Full Song mp3 Download | Pinga Song mp3 Download | Pinga Song Video Download | Latest Bollywood Updates | Bollywood Updates | Prem Ratan Dhan Paayo Songs Download|
© ProfitGuruOnline-2024. All Rights Reserved.