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    NIIF awaits Rs.4,000 cr Canadian push

    National Investment and Infrastructure Fund (NIIF)
    In an encouraging development in the infra sector, the Canada-based pension funds PSP Investments and Ontario Teachers’ Pension Plan (OTPP) are all set to invest Rs.4,000 crore in an investment platform co-promoted by the government of India-sponsored National Investment and Infrastructure Fund (NIIF), sources said that the funds could invest in a special purpose vehicle (SPV) floated by NIIF to fund toll and annuity-based road projects. The three parties are currently negotiating the structure of the partnership, which could entail the creation of a supervisory board in which the funds will have representation. The board will monitor investments made by the SPV and NIIF may invest a similar amount of money in the SPV to acquire a proportionate equity holding in the investment platform or may rope in other investors at a later stage. India is looking to boost investment in roads, ports, railways, energy and airports to upgrade its woeful infrastructure as part of efforts to bolster economic growth.
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