O Panneerselvam pitches for more investments with new fund

This is a pioneering initiative by the state government under the regulations of SEBI, which will provide equity and debt to infrastructure projects, which have a revenue model, he added. 

Addressing the valedictory function of the two-day United Economic Forum (UEF) Trade Summit here, Panneerselvam called the TNIF a fund professionally managed by the Tamil Nadu Infrastructure Fund Management Company (TNIFMC).

Pitching for more investments into the state, the Deputy CM said, “In the first round, the funding has been raised from local investors and they will go live within the next quarter.” 

Panneerselvam said that the TNIFMC was working with government agencies and private promoters to identify projects in areas of industrial water, industrial parks, mega green-energy and allied projects. He assured the international investors that the state, as a promoter, has in-built checks and balances to ensure independence in decision making and alignment of interests of the management team for the fund’s success. 

Panneerselvam said investing here would be a sound decision as the state has been endowed with enterprising and reliable people.

He said the recently promulgated Business Facilitation Ordinance has made it easier for industries, to obtain different types of clearances, while the Chief Minister Edappadi K Palaniswami had launched the single-window portal to enable one-stop clearances for industries. OPS expressed his gladness over the investment commitments of Rs 71,750 crore made in the conclave and signing of MoUs to the tune of Rs 2,600 crore on Sunday.