National Investment and Infrastructure Fund Limited (NIIFL) announced the signing of a Memorandum of Understanding (MoU) with Tamil Nadu Infrastructure Development Board (TNIDB). This MoU outlines the various initiatives that NIIFL will support TNIDB in order to attract capital into infrastructure opportunities within Tamil Nadu.
TNIDB will receive support from NIIFL in identifying private sector investment opportunities. This includes asset recycling and the development of greenfield and brownfield infrastructure projects. These projects include sectors such as renewable energy, roads, waste management and tourism. The goal is to catalyze capital into the state. Seven projects were identified in departments that could attract private investment of around Rs. 5,000 crore to 6,000 crore. These projects are in the process of being implemented.
The NIIFL’s Strategic Initiatives and Policy Advisory (SIPA) team provides strategic advice to the Central and State Governments. Through its SIPA team, NIIFL supports each department in project conceptualization and analysis of project attractiveness for private investment and structuring transactions. NIIFL draws on its expertise and experience in the infrastructure sector, as well as its knowledge of working with private capital, to support the Government of Tamil Nadu.
Commenting on the partnership, Prasad Gadkari, Executive Director and Chief Strategy Officer said, “NIIFL works closely with the Central and State Governments to bring investable opportunities to market. Tamil Nadu has witnessed a manufacturing-led growth over the last few years. NIIFL has been collaborating with the State Government over the course of the last year on a set of interesting project ideas. This MoU formalises our relationship with the Tamil Nadu Government and is in consonance with the broader mandate of NIIFL.”
NIIFL works with other Central and State Government Ministries in areas such as transport, renewables and healthcare.
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