Karnataka infrastructure firm to invest Rs.30 crore in new projects

Bangalore, July 12 (IANS) State-run Infrastructure Development Corporation (iDeCK) plans to invest Rs.30 crore in healthcare and industrial infrastructure projects in Karnataka, a top company official said Monday.

‘We are planning to invest Rs.30 crore this fiscal (2010-11) out of Rs. 40 crore investible fund in healthcare and other infrastructure projects in the state,’ Managing Director P.V. Ravi told reporters here.

As a joint venture with Infrastructure Development Finance Company (IDFC) and Housing Development Finance Company (HDFC), iDeCK provides assistance to government, multilateral agencies and corporates for the development of infrastructure policies and projects.

‘We also operate project development fund and project investment fund besides investing in infrastructure projects,’ Ravi said.

As a state funded agency, iDeCK is empanelled with IDFC to provide transaction advisory services for multilateral agencies such as the Asian Development Bank, the World Bank and the Union finance ministry.

The iDeCK board has approved setting up of Rs.200 crore corpus to invest in various infrastructure projects across the state and country.

Some of the infrastructure projects iDeCK invested recently include the Tumkur-Nelamangala highway (Rs.15 crore) and Narayanpur Power Company Ltd (Rs.20 crore).

‘We are preparing a draft note on enacting an Infrastructure Act for the state government. We have drafted the state’s infrastructure policy earlier,’ Rave noted.

Among projects supervised by it are the World Bank-funded urban water sector improvement project in north Karnataka, development of special economic zones in Karnataka, Jodhpur in Maharashtra and collection and transportation of solid waste in select zones of municipal corporation of Delhi and NDMC.

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