The Indian Government is on the look out for private investors to fund up to 70% of its planned $50bn road projects for the fiscal year ending March 2011.

Indian road transport minister Kamal Nath said the government wants to put about 18,000-20,000km of work in progress during the next 12 months.

The Indian Government, which allows 100% foreign direct investment in the sector, is expecting private equity players to invest significantly in the sector this year, according to Reuters.

Foreign investors can expect a return of 16-18% on their investments, the minister said.