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Reforms needed for speeding up infrastructure projects: IIFCL

Posted on Feb 13, 10:26AM | IANS

Kolkata, Feb 12 : State-owned India Infrastructure Finance Company Ltd (IIFCL) Tuesday said a reform in policies is required for speedy completion of infrastructure projects.

In an infrastructure project under National Highways Authority of India (NHAI), a private bidder had to obtain about 30 clearances, including land and environment clearances, to participate, IIFCL executive director Harsh Kumar Bhanwala said here.

"It will be difficult for private bidders to stick to completion schedule of the projects if they have to get so many clearances," he said.

NHAI projects had so far been attracting very few bids from the private sector, he said.

He was speaking at 'Infra East', a seminar on infrastructure development, organised by industry body Confederation of Indian Industries here.

Bhanwala also emphasised on the need for creating awareness on tax-free bonds to facilitate growth in the infrastructure sector.