QIA, NIIF pact to boost infra investment: Finance Ministry

The agreement between National Investment and Infrastructure Fund (NIIF) and Qatar Investment Authority will boost infrastructure investments, Finance Ministry said on Sunday.

"MoU signed between NIIF and Qatar Investment Authority (QIA) during Prime Minister's visit. Will facilitate investments in infra projects," Economic Affairs Secretary Shaktikanta Das tweeted.

This is the third MoU of NIIF after those with Rusnano of Russia and ADIA of Abu Dhabi.

"Things taking shape. NIIF to play big role in infra sector," Das added.

He said the government keenly working on enhancement of infra investments.

"Committed to make India a more efficient and competitive economy," he said.

The Rs 40,000 crore NIIF was set up in December and is an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.

The government is in the process of appointing a Chief Executive Officer for the NIIF, in which 49% is held by the government and remaining would be held by private investors.

Prime Minister Narendra Modi, during his visit to the oil-rich Gulf nation, held an hour-long closed-door interaction with top business leaders of Qatar on Sunday, telling them about the work done by his government over the last two years to facilitate the ease of doing business.