T.N. to attract investments for infra, housing funds: OPS
First round of funding raised from local, foreign investors
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.
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.