Tamil Nadu, national infrastructure fund start work on 7 projects under PPP model

The National Investment and Infrastructure Fund Limited (NIIFL) has signed a memorandum of understanding (MoU) with the Tamil Nadu Infrastructure Development Board (TNIDB) to help attract commercial capital into infrastructure opportunities in the state, under the public private project (PPP) model. Work has been initiated on seven projects across departments that have the potential to attract private investment in the Rs 5,000 to Rs 6,000 crore range under the MoU.

The NIIFL in a statement said that the collaborative investment platform would support the infrastructure development board in identifying potential private sector investment opportunities, including for asset recycling and developing greenfield and brownfield infrastructure projects in sectors such as renewable energy, roads, waste management, water, tourism and other related sectors with the objective of catalysing capital into the state.

“Tamil Nadu has witnessed a manufacturing-led growth over the last few years. NIIFL has been collaborating with the Tamil Nadu government over the last year on a set of interesting project ideas. This MoU formalises our relationship with the state government and is in consonance with the broader mandate of NIIFL,” Prasad Gadkari, the executive director and chief strategy officer of NIIFL said.