Date of Post: 02 Sep, 2017
Mumbai: The AIIB (Asian Infrastructure Investment Bank) is mulling pumping in $1.5 billion (Rs 9,599 crore) in 6 new projects in India.
It includes Rs 1,279 crore in India’s National Investment & Infrastructure Fund (NIIF).
India has been trying to attract investments for NIIF from several international institutional investors. The Indian government has committed Rs 20,000 crore to the NIIF.
- Danny Alexander, Vice President & Corporate Secretary, AIIB said,”The bank is considering contributing to NIIF in addition to other projects across India. For the proposed investment into the NIIF, the estimated fund is $200 million. The bank is currently reviewing six projects in India. The projects are focused on improving transport, energy and urban infrastructure across the country.”
The $1.5 billion proposed investments by AIIB in the country, include
- Mumbai Metro Line 4 Project ($500 million)
- Bangalore Metro Rail Project Line R6 ($338 million)
- NIIF ($200 million)
- Amaravati Sustainable Capital City Development Project ($200 million)
- Madhya Pradesh Rural Connectivity Project ($141 million)
- Transmission System Strengthening Project ($100 million)
Alexander said,”All projects have to be assessed in detail against the bank’s strict criteria and policies before a final decision is made.”