Core Project Funding To Pick Up

Funding of infrastructure projects in the power and telecom sectors is expected to take off in the current financial year.

With many of the vexing and thorny issues being sorted out, infrastructure development will pick up this year, said S H Khan, chairman and managing director of Industrial Development Bank of India (IDBI).

Khan said that the bank received applications from 32 power projects, seeking sanctions for a total of Rs 26,550 crore. If all these projects fructify, power generation will be augmented by 11,770 mw Besides, there is also a demand for Rs 7,550 crore from nine telecom projects. These include six cellular and three basic projects.

 

While IDBI has financed two private ports till date, Khan is not bullish about the prospects of the ports sector. Besides, he is sceptical on whether road projects will take off in the immediate future.