NIIF eyes Rs. 16,000-cr infra projects

After securing Rs. 1,000-cr allocations in the Budget, the National Investment and Infrastructure Fund (NIIF) has decided to finance Rs. 16,000-cr infrastructure projects in the next financial year, said official sources, elaborating that the fund will generate Rs. 8,000-cr from bilateral institutions, sovereign wealth funds, pension funds, and domestic public sector enterprises and also from various other sources, to achieve its laid down targets. This will fund both greenfield and brownfield in its planed initiatives for which the Centre will invest Rs. 20,000-cr in NIIF, the remaining portion of funds will come from private domestic and foreign investors who can invest in the umbrella fund or smaller sector or in project-specific funds.