NIIFL to collaborate with Government of Tamil Nadu to develop investible PPP infrastructure projects

Mumbai, December 13, 2022

National Investment and Infrastructure Fund Limited (NIIFL) has signed a memorandum of understanding (MoU) with Tamil Nadu Infrastructure Development Board (TNIDB) under which they will collaborate to develop investible public-private partnership (PPP) infrastructure projects.

The MoU outlines the various initiatives on which NIIFL will support TNIDB to help attract commercial capital into infrastructure opportunities in Tamil Nadu, a press release from NIIFL said.

The release said NIIFL would support TNIDB 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.

Seven projects have been identified across departments which have the potential to attract private investments of approximately Rs. 5,000 crore to Rs 6,000 crore. Work on these projects has been initiated.

NIIFL’s Strategic Initiatives and Policy Advisory (SIPA) team provides high-level strategic advice to Central and State Government entities.

NIIFL through its SIPA team supports the respective departments in project conceptualisation and analysing project attractiveness for private investments and in structuring transactions. NIIFL leverages its experience and expertise in the infrastructure sector as well as its experience of working with private capital to support the Government of Tamil Nadu.

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 is also working with various other Central and State Government Ministries on areas such as healthcare, transport, renewables, urban infrastructure and new-age manufacturing to evaluate and structure investment opportunities that can attract private capital and fall within the national and state economic priorities.

TNIDB is the nodal agency set up by the Government of Tamil Nadu to coordinate and promote infrastructure development in the state.

NIIFL is a collaborative investment platform for international and Indian investors, anchored by the Government of India, which manages funds with investments in different asset classes and diversified sectors that generate attractive risk-adjusted returns. NIIFL manages over $4.3 billion of equity capital commitments across its three funds – Master Fund, Fund of Funds, and Strategic Opportunities Fund, each with a distinct investment strategy committed to support the country’s growth needs.

NNN