India seeks Japanese investment in road construction

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TOKYO, Jan. 18 Kyodo -
Kamal Nath, visiting Indian transport minister, called on the Japanese
government and companies Monday to invest in constructing roads in India, where
he said meeting growing demand for infrastructure is the ''highest priority.''
India, which aims to achieve 8 percent economic growth in 2010 and 9 percent in
2011, ''cannot achieve it'' without infrastructure, Nath, minister for road
transport and highways, said in an interview with Japanese media.
In citing one example of the importance of such infrastructure, he said the
country is the world's second-biggest producer of fruits and vegetables but 40
percent of the produce goes rotten without reaching markets because of the lack
of necessary roads.
The Indian government has what Nath described as the ''ambitious'' goal of
constructing 20,000 kilometers of new roads, 60 percent of which will be toll
roads. He added that the ''world's biggest road-building project,'' which will
cost an estimated $15 billion, will be managed jointly by governments and the
private sector.
''We are looking for Japan's participation in not only investment but
technology,'' said Nath, who plans to hold talks with Japan's Economy, Trade
and Industry Minister Masayuki Naoshima and Land, Infrastructure, Transport and
Tourism Minister Seiji Maehara during his two-day stay in Japan through
Tuesday.
His schedule also includes meetings with people from Japanese financial
institutions, including Nomura Holdings Inc., as well as from construction and
expressway management companies.
==Kyodo
2010-01-18 22:52:37