Friday, January 12, 2007

MIDC, IDFC ink deal for Sindhudurg airport, three new SEZs


MUMBAI, JAN 11 : Maharashtra Industrial Development Corporation (MIDC)
on Thursday signed four agreements with the India Infrastructure
Initiative, which is jointly promoted by Infrastructure Development
Finance Company (IDFC) and Feedback Ventures. The India Infrastructure
Initiative (III) will undertake project preparation and partner
selection for four public private partnership (PPP) projects in
Maharashtra: an airport at Sindhudurg, a textile SEZ at Kolhapur, a
power SEZ at Chandrapur, and a power SEZ at Raigad. These projects are
expected to see nearly Rs 6,000 crore of new investment in the state, as
well as the easing of some critical infrastructure bottlenecks. This
will, in turn, propel the state to still faster growth. “These four
projects will help Maharashtra promote industrial growth and employment.
They will also help in regional development of the state, with both the
Konkan and the Vidarbha regions benefiting through better connectivity
and better power,” said state industries minister Ashok Chavan. The
India Infrastructure Initiative offers a “no-cost” solution to the
government/ government undertakings to guide them through the process of
project preparation and partner selection for the identified
infrastructure projects. For its services to create a pool of bankable
infrastructure projects, III does not charge the government or
government agencies and instead recovers its costs from the selected
private sector partners for the projects, thus creating a win-win
situation for all concerned. Rajiv Jalota, CEO, MIDC, said that the
textile SEZ at Kolhapur will generate more than ten thousand jobs. The
two power SEZs should add 1,250 mw of generating capacity to the state.
The new airport will bring greater connectivity to the Konkan region.
“We expect that III will be the vehicle for rapid selection of partners
to execute these important projects,” the official added.


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