Latest news with #NIIF
India Gazette
9 hours ago
- Business
- India Gazette
"Ward-level accountability is key...": MoHUA Additional Secy D Thara
New Delhi [India], June 20 (ANI): As India braces for an influx of 70 million new urban residents over the next two decades, government officials and industry leaders are calling for a strategic pivot in the country's urban development narrative--from rebuilding to revitalisation. 'Infrastructure must be delivered--if the private sector can do it better, let them,' said D Thara, Additional Secretary, Ministry of Housing and Urban Affairs, said. She was delivering the keynote address at a CII conference on Exploring Urban Dynamics: Outlook 2030' held in the capital on Friday. There is a disconnect between India's economic ambitions and the capacities of its urban local bodies, Thara said, urging the private sector to be proactively engaged in the urban development of the country. This becomes even more important as urban India is set to see an estimated 70 million new urban residents in the next two decades by 2045. This poses challenges and opportunities as the country will see the creation of many more cities, calling for a pragmatic, revitalisation-first approach to urban development. She underlined the need for targeted interventions to upgrade existing cities, backed by significant investment. The proposed Urban Challenge Fund, she explained, is intended to catalyse this transformation with a mix of 25 per cent public sector seed funding, 50 per cent market capital, and 25 per cent state contribution. 'It's not about building afresh,' she said, 'it's about fixing what already exists--legacy infrastructure, greenfield areas, and urban governance systems.' Prasad Gadkari, Executive Director & Chief Strategy Officer at NIIF, echoed the importance of enabling frameworks to unlock capital. 'A robust pipeline of projects, predictable revenue streams, and standardised bidding processes are essential,' he said, noting NIIF's readiness to back urban infrastructure initiatives through scalable public-private partnerships. Abedalrazq Khalil, Practice Manager for Urban and Land at the World Bank, placed India's urbanisation in global perspective. 'By 2050, 800 million people are expected to live in Indian cities. Cities must be enablers of growth--but many are not yet ready.' He emphasised the need for integrated planning and livability as critical to attracting private investment. Transport integration also featured prominently, with the Regional Rapid Transit System (RRTS) cited as a model for enabling distributed urban employment. In-situ slum redevelopment and smaller-scale, private-led urban initiatives were also discussed as vital components of revitalisation. The conversation repeatedly returned to the need for local capacity. 'Ward-level accountability is key,' said Thara, pointing to the need for institutional support to empower smaller municipalities to tap funds such as those managed by NIIF. Regulatory enablers, including those supporting Transit-Oriented Development and flexible work models, were also cited as tools for urban regeneration. Sriram Khattar, Co-Chair, CII National Committee on Real Estate and Housing, noted that urban PPPs, once uncertain, have now gained credibility. Dr Debolina Kundu, Director of NIUA, added that effective urban governance, capacity building, and low-carbon infrastructure would be essential pillars of India's urban strategy to 2050. (ANI)
Hans India
11 hours ago
- Business
- Hans India
India's urban headcount likely to surge by 70 million in next 20 years
New Delhi: India Inc. must take up infrastructure building in cities in partnership with municipal corporations as the country is expected to add 70 million new urban residents in the next two decades by 2045, a senior official said on Friday. Addressing a CII conference here, D Thara, Additional Secretary, Ministry of Housing and Urban Affairs, said that there is a disconnect between India's economic ambitions and the capacities of its urban local bodies, so the private sector needs to be proactively engaged in the urban development of the country. 'India is a rich nation with poor municipalities,' she remarked. She was delivering the keynote address at a CII conference on 'Exploring Urban Dynamics: Outlook 2030'. She said the growing urban population poses challenges and opportunities as the country will see the creation of many more cities, calling for a pragmatic, revitalisation-first approach to urban development. She underlined the need for targeted interventions to upgrade existing cities, backed by significant investment. The proposed Urban Challenge Fund, she explained, is intended to catalyse this transformation with a mix of 25 per cent public sector seed funding, 50 per cent market capital, and 25 per cent state contribution. 'It's not about building afresh,' she said, 'It's about fixing what already exists - legacy infrastructure, greenfield areas, and urban governance systems.' Prasad Gadkari, executive director & chief strategy officer at NIIF, echoed the importance of enabling frameworks to unlock capital. 'A robust pipeline of projects, predictable revenue streams, and standardised bidding processes are essential,' he said, noting NIIF's readiness to back urban infrastructure initiatives through scalable public-private partnerships. Abedalrazq Khalil, Practice Manager for Urban and Land at the World Bank, placed India's urbanisation in a global perspective. 'By 2050, 800 million people are expected to live in Indian cities. Cities must be enablers of growth, but many are not yet ready,' he said. He further emphasised the need for integrated planning and livability as critical to attracting private investment. Transport integration also featured prominently, with the Regional Rapid Transit System (RRTS) cited as a model for enabling distributed urban employment. In-situ slum redevelopment and smaller-scale, private-led urban initiatives were also discussed as vital components of revitalisation.
Mint
12-06-2025
- Business
- Mint
Cube Highways Trust completes acquisition of 2 highways in J&K from NIIF for ₹4,185 crore
The National Investment and Infrastructure Fund (NIIF) and Cube Highways Trust (Cube InvIT), which are both managed by Cube Highways Fund Advisors Pvt. Ltd, announced on Thursday the successful transfer of two operational annuity road projects from NIIF to Cube InvIT at an enterprise value of ₹ 4,185 crore. The two assets being transferred, Quazigund Expressway Pvt. Ltd (QB) and Athaang Jammu Udhampur Highway Pvt. Ltd (JU), spanning approximately 80km and located in Jammu and Kashmir. QB is one of the longest bi-directional tunnels in India, while JU is an essential link between Jammu and Srinagar. These assets have a residual concession life of over six years and are backed by fixed semi-annual annuity payments from the National Highways Authority of India (NHAI), providing stable and predictable cash flows that are insulated from traffic risks. The total enterprise value (including cash) of the two assets has been reported at ₹ 4,185 crore, subject to all closing adjustments as specified in the share purchase agreement (SPA), Cube Highways Trust said in a statement. "We are pleased to collaborate with NIIF on this important transaction. Today's acquisition will add to the high-quality, pan-India portfolio and enhance the Trust's exposure to fixed-revenue annuity assets that are unaffected by traffic risks and economic cycles. It also showcases Cube InvIT's disciplined capital allocation strategy and prudent use of its balance sheet for acquiring de-risked assets with strong fundamentals. This transaction is expected to be accretive to net distributable cash flows by ₹ 2.3 per unit annually, on average, over the next five years,' Vinay C. Sekar, chief executive officer (CEO) of Cube InvIT, said. Pankaj Vasani, Group chief financial officer (CFO) of Cube InvIT, said, "The strategic addition of these two completed and revenue-generating annuity assets optimally complements our existing portfolio of assets and grows the annuity exposure. Following this transaction, annuity revenue will account for 33% of Cube InvIT's total revenue. With a net debt to AUM ratio of 49% (post transaction) and a AAA-rated credit profile from Crisil, Icra and India Ratings, Cube InvIT remains well-positioned to pursue further value-accretive acquisitions.' Vinod Giri, managing partner, master fund, NIIF, said this transaction reflects NIIF's ability to underwrite complex transactions and acquire large infrastructure assets, de-risk them with a comprehensive plan, improve the credit profile, and create value. "These assets strongly reflect the core competency of Athaang, the wholly owned roads platform of NIIF, in managing high-quality infrastructure assets with operational excellence through best-in-class systems and processes. This track record enables us to deliver strong returns and attract global institutional capital.' Cube Highways Trust is an irrevocable Trust set up under the Indian Trusts Act, 1882 and registered with the Securities Exchange Board of India (Sebi) as an Infrastructure Investment Trust. It is backed by a diversified investor base, including I Squared Capital, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corp. and Abu Dhabi's sovereign investor Mubadala Investment Co. Cube Highways Trust is engaged in implementing the public-private partnership model in the country's highways sector to operate and manage highway projects in association with the Union and state governments.
Time of India
10-06-2025
- Business
- Time of India
Finance minister Nirmala Sitharaman asks NIIF to diversify financial sources
NEW DELHI: Finance minister Nirmala Sitharaman on Monday asked the National Investment and Infrastructure Fund (NIIF) to leverage its sovereign-backed design to showcase its performance at the global stage. Chairing the 6th meeting of the Governing Council (GC), Sitharaman exhorted the NIIF to have a proactive approach to fundraising and the need to explore diversified sources of financing, the finance ministry said in a statement. The Rs 40,000-crore NIIF was set up in Dec 2015 as an institution to enhance infrastructure financing by investing in greenfield, brownfield and stalled projects. The quasi-sovereign wealth fund's assets under management (AUMs) have increased to more than Rs 30,000 crore. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
09-06-2025
- Business
- Business Standard
Governing Council urges NIIF to boost global presence, adopt new strategy
The Governing Council (GC) on Monday advised the National Investment and Infrastructure Fund Limited (NIIF) to leverage its sovereign-backed design and emphasised the need to professionally showcase its role and performance on the global stage and within the international investor community. 'The team at NIIF was advised to have a proactive approach to fund-raising and the need to explore diversified sources of financing. The GC expressed its confidence in an enhanced role for NIIF going forward and advised that the meeting be held annually,' said the finance ministry statement. Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, chaired the sixth meeting of the Governing Council (GC) of the National Investment and Infrastructure Fund Limited (NIIF) in New Delhi. The meeting was also attended by Ajay Seth, Finance Secretary and Secretary, Department of Economic Affairs (DEA); M. Nagaraju, Secretary, Department of Financial Services (DFS); Anuradha Thakur, OSD (DEA); C.S. Setty, Chairman, State Bank of India; and Uday Kotak, Founder and Director, Kotak Mahindra Bank. Moreover, the GC took note of progress on NIIF's upcoming Private Markets Fund II, which has a target corpus of $1 billion, and appreciated the fact that PMF II has successfully onboarded private investors — in line with earlier GC guidance — and is set for its first closing shortly. The GC was also informed about the proposed bilateral fund currently under discussion with the United States. Guidance was provided on aspects related to strategy, successful fund-raising, timely operationalisation and effective deployment. The GC appreciated that both the Master Fund and the Private Markets Fund are already 100 per cent committed and that part of the Master Fund's investments has gone into the creation of greenfield assets in areas such as ports and logistics, airports and data centres. The Governing Council appreciated NIIF's evolution as a sovereign-linked asset manager and acknowledged its sustained efforts in building strong partnerships with marquee global investors, including sovereign wealth funds such as the Abu Dhabi Investment Authority (ADIA) and Temasek; pension funds such as AustralianSuper, Ontario Teachers' Pension Plan and the Canada Pension Plan Investment Board (CPPIB); multilateral development banks including the Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB) and New Development Bank (NDB); as well as strategic government institutions such as the Japan Bank for International Cooperation (JBIC). Recognising NIIF's expanding role in mobilising capital into infrastructure and other priority sectors of the Indian economy, the GC appreciated its performance and took note of the growth in its assets under management, which now exceed Rs 30,000 crore, while catalysing capital of Rs 1,17,000 crore. 'The Council was also briefed on NIIF's overall strategy, sectoral focus, investment progress and future roadmap across its four active funds: the Master Fund for infrastructure, the Private Markets Fund (Fund of Funds), the India-Japan Fund focused on climate and sustainability, and the Strategic Opportunities Fund aimed at growth equity,' said the finance ministry statement.
