Considering India’s substantial infrastructure requirement, the Asian Infrastructure Investment Bank (AIIB) has planned to invest about Rs 127 billion in projects including transport (metro), rural (road upgradation), energy (renewables) and water and waste management.
“We have six projects in the pipeline,” says Sir Danny Alexander, Vice President & Corporate Secretary, Asian Infrastructure Investment Bank.
The proposed projects by AIIB are rural road projects and a water and waste management project in Andhra Pradesh; the Mumbai Metro Line 4; and a major irrigation and flood management project in West Bengal and Amaravati in Andhra Pradesh. The total investment would be to the tune of Rs 127 billion.
Earlier, AIIB had committed Rs 75 billion in projects that included a rural connectivity project in Madhya Pradesh; the Bangalore Metro; power transmission in Tamil Nadu; rural roads in Gujarat; and the power-for-all project in Andhra Pradesh.
That apart, the bank has committed an investment of $200 million in the National Investment and Infrastructure Fund (NIIF). By far, this is the second largest investment in NIIF by any multilateral agency. In October last year, the Abu Dhabi Investment Authority had pledge an investment worth $1 billion.
- Rahul Kamat