By NNN-Bernama
New Delhi : After a successful stint in the Indian infrastructure sector, Malaysia says it is now ready to help India build a super highway to connect the mammoth country — from north to south.
Works Minister S. Samy Vellu said Malaysian investors were prepared for a joint venture with Indian companies to construct the mega project.
“Malaysia is prepared to invest in the creation of a super highway for India and we will be able to invest 70 percent of the cost.
“This is private sector investment that we can mobilise from Malaysia with a strong support of the government of Malaysia. We can anticipate India to invest the remaining 30 percent,” Samy Vellu said in his speech at a plenary session entitled Investment and Infrastructure, held at the 6th Pravasi Bharatiya Divas in Delhi.
“This super highway can connect city to city. This intercity highway is important for India with its gigantic economy. It can help move the people faster and the economic development faster,” he added.
He said the venture could result in tremendous employment and development opportunities throughout India — whose economy is already steaming at nine percent growth in recent years.
There are 23 cities sprawled across the jagged Indian landscape stretching 3,325 km, from Kashmir in the north to Kanniyakumari (Cape Comorin) in the south – each city with more than a million people.
Besides, India’s four metropolitans — Chennai, Kolkata, Mumbai and New Delhi — each has a population of more than 10 million.
India had been so far the most important overseas market for Malaysian construction companies and until now they have secured 72 projects valued nearly RM16 billion (US$4.7 billion)
At least 80 percent were highway projects secured through competitive biddings.