The National Highways Authority of India (NHAI), through its fully-owned Special Purpose Vehicle, DME Development Ltd (DMEDL), is set to issue green bonds worth ₹1,000 crore. This initiative aims to fund environmentally sustainable measures along the Delhi-Mumbai Expressway.
The ₹500-crore bond issue with a green-shoe option for another ₹500 crore if oversubscribed is likely to hit the market in the second week of December. The proceeds would be utilised for avenue plantation, animal underpasses, stormwater drainage, solar streetlights, waste recycling and rainwater harvesting among several eco-friendly projects.
Commitment to Sustainability
NHAI Chairman Santosh Kumar Yadav said, “This will, in addition, draw investments towards ecology-friendly projects in the sector of Roads & Highways and thus lead to energy consumption and reduced environmental impact of vehicular emissions.
Green Bonds: The green bonds issued align with NHAI’s broad vision of creating green highways while showing its commitment to a go-green initiative. Third-Party Evaluator appointed for the review in CARE EDGE Analytics to certify Green credentials for DMEDL activities.
Ambitious Fundraising Targets
DMEDL aims to raise ₹48,000 crore this year through loans and bond issuances, with ₹42,000 crore already secured. The upcoming green bond issue will bolster this target while emphasizing sustainability in infrastructure development.
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Source: Moneycontrol
News Desk
