uae - newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra

NHAI Seeks Investment In UAE For Infrastructure Monetization

Newsmantra — Fri, 31 May 2024 05:02:44 +0000

NHAI’s delegation, led by Chairman Sh. Santosh Kumar Yadav and NHIT MD Suresh Goyal, are conducting high-level meetings and roadshows in Dubai and Abu Dhabi to attract foreign investment via NHAI Infrastructure Investment Trusts (InVITs). At a Dubai roadshow with the Consulate General of India and SBICAPS UAE, Yadav highlighted India’s highway expansion from 70,000 to 140,000 kilometres in a decade, driven by significant government investment. Yadav also noted the transformation of these roads into financial assets through advanced digitization of toll collection, with 98-99% of collections now electronic.

The roadshows offer UAE investors a chance to join India’s infrastructure growth, Managing Director of NHIT Mr Suresh Goyal emphasized the financial stability and potential returns, noting that India’s national highways carry 70-80% of commercial traffic, and with GDP expected to grow at 6-7% annually, toll revenue is projected to grow accordingly.

NHAI aims to build lasting UAE investor relationships, with positive responses in Dubai and upcoming meetings in Abu Dhabi. This initiative represents a strategic move to secure sustainable funding for India’s highway expansion, attracting significant capital and fostering a beneficial partnership for both India and investors. The delegation comprised Santosh Yadav, Chairman of NHAI; Suresh Goyal, MD & CEO of NHAI InvIT; Mr. Rajendra Kumar, Member (Finance) of NHAI; Anurag Jain, CIO of NHAI InvIT; Arnab Chaudhary, Head of Debt Capital Markets at SBI Capital Markets; and Vishal Gupta, Head of Middle East at SBI Capital Markets.

The post NHAI Seeks Investment In UAE For Infrastructure Monetization appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

US reaches ‘partner’ UAE, stops ‘secret Chinese base

Newsmantra — Sun, 21 Nov 2021 06:02:46 +0000

The construction of a secret Chinese military facility near a port in Abu Dhabi has been stopped after intervention from the Biden administration, a Wall Street Journal report stated Friday. According to the report, US secret agencies had found evidence of the secret construction this year, and the US government had allegedly warned the Emirati government that the presence of Chinese military in its country could threaten ties between US and UAE. The move comes amidst growing US-China rivalry in the Middle-East.

China halted construction on a secret port project in the United Arab Emirates that US intelligence agencies suspected was a military facility, the Wall Street Journal reported on Saturday citing unidentified people familiar with the matter.

The project was stopped after the Biden administration warned that a Chinese military presence in the Gulf nation could threaten relationship between the two countries, the Journal reported.

The US found that China was building some sort of military installation at the port near the Emirati capital of Abu Dhabi based on classified satellite imagery, the report said. The Emirati government appeared to be unaware of the military nature of the facility, it added.

The WSJ quoted a UAE Embassy spokesman in Washington as saying: “The UAE has never had an agreement, plan, talks or intention to host a Chinese military base or outpost of any kind.” A spokesman for China’s Embassy in Washington didn’t immediately respond to the Journal’s request for comment

The post US reaches ‘partner’ UAE, stops ‘secret Chinese base appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.