‘.`5k-cr PE Cor­pus by PSUs Can Help Mar­itime Projects’

The Economic Times - - Economy - Our Bureau

Mum­bai: The govern­ment should fa­cil­i­tate the set­ting up of a pri­vate equity cor­pus of .₹ 5,000 crore by Pub­lic Sec­tor Un­der­tak­ings (PSUs) which will help mar­itime projects and en­cour­age pri­vate in­vest­ments in the sec­tor, Piyush Goyal, min­is­ter for coal, power, new and re­new­able en­ergy said Fri­day. “If PSUs make a cor­pus in the form of a pri­vate equity fund and also in­volve in­ter­na­tional PE funds, if we raise $100-200 mil­lion (or about .₹ 1,000 crore) in In­dia and, on that ba­sis, raise .₹ 4,000-5,000 crore ad­di­tion­ally from over­seas, funds from that cor­pus can be in­vested in dif­fer­ent projects, based on the in­di­vid­ual merit of each project,” he said on the side­lines of the Mar­itime In­dia Sum­mit.

“This will make for faster im­ple­men­ta­tion of projects. In­vest­ment from govern­ment money will also en­cour­age the pri­vate sec­tor to feel, the govern­ment is fast-track­ing and not de­lay­ing pro- jects. This can be a win-win form of pub­lic-pri­vate part­ner­ship,” he said. Speak­ing on in­land wa­ter trans­porta­tion and coastal ship­ping ear­lier in the day, Goyal said the ship­ping in­dus­try can help re­duce the im­port of ther­mal coal by the power and coal in­dus­tries. He added that he wants In­dia to com­pletely stop the im­port of coal over the next two to three years. Goyal added In­dia has cut im­ports by about .₹ 28,000 crore last year and has the abil­ity to re­duce them by an ad­di­tional .₹ 40,000 crore.

Piyush Goyal FILE PHOTO

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