Infrastructure Development Finance Co Ltd's (IDFC) focus projects in Tamil Nadu will be Ennore Special Economic Zone (SEZ), Chennai desalination plant and information technology parks. |
IDFC is a joint equity partner along with Tamil Nadu Industrial Development Corporation (Tidco) and Ennore Port in Ennore SEZ Company. |
Anupam Srivastava, senior director-business development, IDFC, said that Pricewaterhouse Cooper is undertaking the feasibility studies for Ennore SEZ company, and is expected to submit its preliminary report by the end of the month. |
Addressing mediapersons, Rajiv B Lall, managing director and CEO, IDFC, said that Ennore SEZ, the company's first project development initiative, is estimated to cost over Rs 2,000 crore. |
Anupam Srivastava said that IDFC will eventually move to become a minority equity holder when private players participate in the Ennore SEZ Company. |
"We are focusing on developing IT parks. However, we have developed only one in Karnataka, so far," said Lall. |
IDFC is providing financial consultancy to one of the bidders for the Chennai desalination plant. The company is also advising Chennai Metro Development Authority on the Chennai Infrastructure plan. |
The institution's sanctions to Tamil Nadu is estimated at Rs 700 crore during 2004-05. The total borrowing of IDFC for the current year is estimated at Rs 7,500 crore. |