CHENNAI: Finance Minister O Panneerselvam on Tuesday introduced a Bill which provides for the constitution of Tamil Nadu Infrastructure Development Board (TNIDB) to be headed by Chief Minister J Jayalalithaa to realise her ambitious plans as part of the Vision 2023 announced recently.
The CPM and Puthiya Thamizhagam opposed the Bill at the introductory stage itself. The Bill said the Tamil Nadu Infrastructure Development Act, 2012 will apply to all projects of a value exceeding Rs.500 crore implemented by a public agency. The TNIDB will identify project concepts, facilitate their execution after due evaluation and achieve financial closure either directly through government agencies or through the public-private partnership mode.
The Bill provides for a facilitative environment in the State for financing, constructing, maintaining and operating infrastructure projects through private sector participation.
The TNIDB will monitor implementation of all projects, including the enforcement of agreements.