Retirement fund body Employees’ Provident Fund Organisation (EPFO), which burnt its hands with investments in IL&FS and Dewan Housing Finance Corporation Ltd, has initiated talks with National Highways Authority of India (NHAI) to enhance funding for highways.While EPFO has already invested around Rs 10,000 crores via NHAI bonds this year, executives from the retirement fund body met highways minister Nitin Gadkari recently and evinced interest in enhancing the corpus.
The NHAI is in talks with EPFO, which is looking to invest long term funds in the road sector.Officials from EPFO met road transport and highways minister Nitin Gadkari recently and expressed their inclination to enhance funding to NHAI, a source closely associated with the development told ET.“They are looking to invest a larger amount now, given they have a huge appetite to invest”.EPFO had invested about Rs 1,300 crore in DHFL bonds five years ago and has now sought early redemption of about Rs 600 crore worth of DHFL bonds floated from the cash-strapped housing finance company.