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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

India: Government looking to create a fund for steel firms under NIIF

Posted on 09 May 2016

Government is looking at creating a fund under India’s first sovereign wealth fund, NIIF, which will address capital requirements of domestic steel companies. The government in December created the Rs 40,000-crore National Investment and Infrastructure Fund (NIIF) as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.
“Government is also working on operationalising National Infrastructure Fund, the sovereign fund, and that is envisaged as a mother fund and within that there will be specific sectoral funds. “We are trying to see how we can structure something for the steel industry there, which I think will definitely go a long way in bringing down the capital costs,” Steel Secretary Aruna Sundararajan said………………………………………..Full Article: Source


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