New Delhi, (IANS) The National Investment and Infrastructure Fund (NIIF) has signed a Memorandum of Understanding (MoU) with Qatar Investment Authority (QIA) for facilitating investment in India’s infrastructure.
“With a view to attracting investments from Qatar, NIIF entered into an MoU with QIA on June 5, 2016, during the visit of Prime Minister Narendra Modi to Doha,” the Finance Ministry said in a statement here on Thursday.
QIA is the sovereign wealth fund of Qatar. The fund deploys a wide range of investment strategies and invests through a carefully selected network of top-tier fund managers, it said.
The objective of the MoU is to facilitate QIA to study investment opportunities in the infrastructure sector in India, in order to enable both sides to decide on joint investments, the statement said.
“The MoU has been signed for a period of one year during which period both parties will discuss and agree on the terms, principles, criteria for such investments. The NIIF shall share with QIA a pipeline of investment opportunities available in the infrastructure sector in India,” it said.
NIIF, India’s first Rs 40,000-crore sovereign wealth fund, aims to attract investment in infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects.