Financial Daily from THE HINDU group of publications
Friday, Jun 21, 2002
Industry & Economy
Private funding of infrastructure projects IDFC plans to brief TN CM
CHENNAI, June 20
THE Infrastructure Development Finance Company Ltd (IDFC) hopes to catalyse private investment in urban transport and other infrastructure projects in the State.
In an informal chat with reporters on Wednesday at the post-annual general meeting press conference, IDFC's Managing Director and CEO, Mr Nasser Munjee, said that a delegation from IDFC hoped to meet the Tamil Nadu Chief Minister, Ms J. Jayalalithaa next week.
The company hoped to make a presentation on the possible avenues for encouraging private investments in infrastructure through a public-private partnership.
IDFC also hoped to initiate discussions with the State Government for urban infrastructure projects and with the Mumbai Municipal Corporation, Mr Munjee said. It was exploring similar opportunities in Lucknow. It had recently signed a MoU with the Delhi Municipal Corporation for projects relating to waste management systems and urban transport.
According to an IDFC release, as on March 31, 2002, the company's cumulative approval from infrastructure projects in Tamil Nadu aggregated to Rs 645 crore for 13 projects. These include five projects in the power sector, three in telecommunication, four road/pipeline projects and one urban infrastructure project. Of these, it has disbursed Rs 403 crore for eight projects.
IDFC has entered into a wide range of State-level initiatives with Governments in an advisory role and in establishing projects.
For instance, during the previous financial year it established a joint venture with the Karnataka Government, Infrastructure Development Corporation (Karnataka) Ltd (iDeCK), which focussed on gaining an understanding of issues in various sectors.
The assignments covered development of a preliminary business plan and financial model for Rail Infrastructure Development Corporation (Karnataka) Ltd (K-RIDE), solid waste management, water supply and sewerage services in Bangalore and urban Karnataka.
Through a MoU with the Uttaranchal Government it was exploring initiatives in hydropower and tourism.
For Kerala, it had carried out a review of the legal framework of the roads sector, developed a toll policy, operationalised the road fund including preparation of the business plan and operating procedures.
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