Birla AMC upbeat on power, infrastructure

Infrastructure funds are expected to fare well in the next three-years as investments in the sector will increase substantially during the period, a top mutual funds industry official said today.

"The infrastructure sector is expected to grow substantially in the next three-years. Within infrastructure, both power and construction hold an immense potential and huge investments are expected to flow into them," ICICI Prudential AMC's Equity, Chief Investment Officer, S Naren, told PTI here.

The Government has estimated that the country needs $514-billion poured into infrastructure in the five-years till FY 12, the year when the economy is expected to expand 9 per cent.

Naren was bullish on power and said that the total demand for electricity in India is expected to cross 9,50,000 MW by 2030.
    
"The demand of power in the country is enormous and is growing steadily," Naren said.
    
Birla AMC's infrastructure fund had given a 35 per cent return last year.
    
"We will invest more in this sector, if we will get the money. We expect a good return this year as well," he said.