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