The new joint venture, named IntelliSmart Infrastructure will implement, finance and operate the smart meter roll-out program of power distribution companies
Gadkari said NHAI was in a comfortable position and it would go ahead with its fund-raising plans
AustralianSuper and Ontario Teachers' will also become shareholders in National Investment and Infrastructure Fund Limited, NIIF's investment management company
The two fund managers committed $250 million each in the Master Fund and co-investment rights of up to $750 million each in future opportunities alongside the NIIF Fund.
The fund already has commitments from two sovereign wealth funds-- Abu Dhabi Investment Authority and Singaporean Temasek
The proposed Delhi-Mumbai expressway would also be connected to the industrial city of Indore and an arm of the erstwhile Golden Quadrilateral
This equity investment would be leveraged to raise close to Rs 50,000-crore debt
The Road Transport and Highways Minister was addressing the media after the signing of an MoU between NHAI and NIIF
However, it must proceed with caution
NIIF is designing a fund of $2 billion to invest in long-gestation infrastructure projects in the country
The acquisition will enable NIIF to provide private debt funding to infrastructure projects
The Fund provides mezzanine finance to developers of mid-income and affordable urban housing projects
NIIF hopes to raise Rs 400 bn across its three funds in the near term namely, Master Fund, Fund of Funds and Strategic Investment Fund
The Indian government has contributed Rs 4 cr till date out of an envisaged corpus of Rs 40,000 cr
According to Budget, govt drastically lowered allocation for NIIF from Rs 4,000 crore to Rs 1,000 crore in RE
He is the director and global co-head of infrastructure and natural resources at International Finance Corporation
This will be done to allow investors to co-invest in the sovereign wealth fund as also in individual projects
In December, government had set up NIIF, an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects
Set up in December 2015, the Rs 40,000-crore NIIF will act as an investment vehicle for funding commercially viable projects
This is the third MoU of NIIF after those with Rusnano of Russia and ADIA of Abu Dhabi