NIIF units looking to get Rs 6,000 cr funding boost
Click here to read full article from source
New Delhi, Aug. 11 -- The Union finance ministry is preparing a cabinet note to seek approval for a Rs.6,000 crore equity infusion into two subsidiaries of the National Infrastructure Investment Fund (NIIF), a government official aware of the matter said.
The amount will be part of the Rs.22,000 crore equity support promised for NIIF in Union budget 2020-21. The quasi-sovereign wealth fund will leverage this equity to raise funds for a Rs.1 trillion national infrastructure pipeline (NIP).
The ministry is giving the final touches to the cabinet note, after which approval will be sought, the official said on condition of anonymity. "However, the entire amount ( Rs.6,000 crore) may not be needed as we are halfway through the year. We may n...
To read the full article or to get the complete feed from this publication, please Contact Us