China to bid for Indian highway projects

Construction Company China Railway Construction Corporation has evinced interest in bidding for Rs 35,000-40,000 crore worth of highway contracts in India. Top executives of the Chinese construction major held a meeting recently with National Highways Authority of India (NHAI) Chairman Raghav Chandra to discuss the proposal. The Chinese company has annual turnover of $100 Billion and market capitalization of around $250 billion is likely to bid for both government funded and public private partnership (PPP) projects.