T.N. to at­tract in­vest­ments for in­fra, hous­ing funds: OPS

First round of fund­ing raised from lo­cal, for­eign in­vestors

The Hindu - - TAMIL NADU - Staff Re­porter

Tamil Nadu In­fra­struc­ture Fund Man­age­ment Com­pany (TNIFMC), formed by the State govern­ment, plans to at­tract more in­ter­na­tional in­vest­ment for the in­fra­struc­ture fund and for the Tamil Nadu Shel­ter Fund (for af­ford­able hous­ing), Deputy Chief Min­is­ter O. Pan­neer­sel­vam said on Satur­day.

“We have es­tab­lished the Tamil Nadu In­fra­struc­ture Fund, which is the first cat­e­gory-I al­ter­na­tive in­vest­ment fund, un­der Se­cu­ri­ties and Ex­change Board of In­dia reg­u­la­tions. It pro­vides eq­uity and struc­tured fi­nance in­fra­struc­ture pro­jects, which have a rev­enue model,” he said at a con­fer­ence on in­no­va­tive and al­ter­na­tive fi­nance for busi­ness and in­fra­struc­ture de­vel­op­ment.

Sharia fi­nance

The con­fer­ence was or­gan­ised by United Eco­nomic Fo­rum Cham­ber of Com­merce and World Islamic Eco­nomic Fo­rum Foun­da­tion.

The aim of the con­fer­ence was to cre­ate aware­ness on Sharia com­pli­ant fi­nance. “If any State is ready to re­ceive and ground in­vest­ments of such a large vol­ume, it is Tamil Nadu. The State govern­ment has iden­ti­fied over 200 in­fra­struc­ture pro­jects, re­quir­ing an in­vest­ment of about $250 bil­lion,” he said.

S. Kr­ish­nan, prin­ci­pal sec­re­tary, Hous­ing and Ur­ban De­vel­op­ment,

In­dus­tries Min­is­ter M.C. Sam­path, In­dus­tries Sec­re­tary K. Gnanade­sikan, Arif Buhary Rah­man, chair­man, UEF Cham­ber of Com­merce, and Tun Musa Hi­tam, chair­man, WIEF Foun­da­tion, spoke.

O. Pan­neer­sel­vam

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