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

Posted: Friday, Jan 12, 2007 at 0103 hrs IST
Updated: Friday, Jan 12, 2007 at 0103 hrs IST

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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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