New Delhi: The National Highways Authority of India (NHAI) announced that its special company, DME Development Ltd (DMEDL), will raise ₹1,000 crores through green bonds. This money will help make climate-friendly improvements on the Delhi-Mumbai Expressway.
DMEDL plans to collect this money in two parts: an initial amount of ₹500 crores and a chance to raise another ₹500 crores if there is a lot of interest from investors. The bonds are set to launch in December 2024.
The money from these bonds will be used for several eco-friendly projects, including planting trees along the road, building safe passages for animals, creating natural drainage systems, installing solar-powered streetlights, recycling waste, and harvesting rainwater.
NHAI Chairman Santosh Kumar Yadav mentioned that these green bonds will encourage more investment in projects that help the environment, particularly in the roads and highways sector. They will also help save money in the long run by using less energy and reducing harmful vehicle emissions.
By issuing these bonds, DMEDL aims to improve its financial standing, lower borrowing costs, and attract investors who care about environmental and social issues. DMEDL has asked Care Edge Analytics to review and confirm its green projects.
Founded in August 2020, DMEDL is a company set up by NHAI to finance, build, and operate the new Delhi-Mumbai expressway. It has received an AAA rating from agencies like CRISIL, CARE, and India Rating. DMEDL has plans to raise around ₹48,000 crores through loans and bonds from banks and has already secured about ₹42,000 crores.
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