CHENNAI: Infrastructure projects in the State will be getting a fillip with Rs 2,000 crore allocation made for Tamil Nadu Infrastructure Development Fund (TNIDB) and Rs 100 crore earmarked for the Project Preparation Fund, in the revised budget for 2016-17.
Presenting the revised budget in the State Assembly, Finance Minister O Panneerselvam recalled that the State government had created the TNIDB in 2012 to support and execute the enlisted projects in Vision 2023 and to give exclusive focus to major infrastructure projects, especially under the Public Private Partnership (PPP) mode. He also said in a landmark initiative, for the first time in the country, the State had promoted the Tamil Nadu Infrastructure Fund as an Alternative Investment Fund Category (AIF-I) through the Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC). “The Fund has already been registered by the Securities and Exchange Board of India (SEBI) and is now in the process of mobilising Rs 3,000 crore, Panneerselvam added. The Minister further said Part II of the Vision 2023 document which was released by the Chief Minister on February 21, 2014 spelt out the sector specific approaches and profiles of 217 infrastructure projects in six major sectors. “Works for 88 projects have already started and 16 projects have reached bidding stage. Detailed Project Reports and Detailed Feasibility Studies have been prepared for 24 projects which are ready for launch.