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Chennai: IDFC expects its
assistance to the industrial and commercial infrastructure
sectors to grow. Areas such as special economic zones, hotel
projects and IT parks come under this category.
This sector now accounts for about 10 per cent of IDFC's
funding and this percentage will grow, according to IDFC
officials.
Dr Rajiv B. Lall, Managing Director and CEO, told newspersons
that the company would look at funding more IT parks. It has
already funded a project in Karnataka.
On the industrial and commercial infrastructure sectors, IDFC
officials said that the company was involved with the Ennore
special economic zone in Tamil Nadu.
It was partnering with the Tamil Nadu Industrial Development
Corporation (TIDCO), a State Government undertaking, and
Ennore Port Ltd for this port-based SEZ.
Anupam Srivastava, Senior Director (Business Development)
said that a separate company to execute the project had been
formed and PricewaterhouseCoopers was conducting feasibility
studies.
These would cover the nature of industries that could be
located and how the project could be structured.
He said that the investment in this project would be more
than Rs 2,000 crore.
IDFC plans to take the project up to the initial development
stage and exit it along with the Tamil Nadu Government. It
could even continue, albeit as a minority project investor.
Srivastava said that IDFC was involved in a number of
advisory assignments in Tamil Nadu, including in helping
Chennai Metrowater on tariff indexation and in preparing a
Chennai infrastructure plan for the Chennai Metropolitan
Development Authority.
It was advising one of the bidders for the Chennai
desalination plant.
IDFC's exposure in Tamil Nadu is about Rs 700 crore. It has
assisted a number of private power projects.
Dr Lall said that the energy sector, which accounts for 34
per cent of IDFC's exposure, provides ample opportunities for
growth not just in private sector generation projects but
captive power projects as well.
A number of companies are looking at these to meet their
power needs and as an investment opportunity.
Past
Headlines
TN - IT exports to cross Rs 11000 Cr.
Balamuralikrishna selected for Chevalier award
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