NIIF, Qatar fund sign MoU for facilitating Qatar investments
10 Jun 2016
The National Investment and Infrastructure Fund (NIIF) Ltd has entered into a memorandum of understanding (MoU) with Qatar Investment Authority (QIA) with a view to attract investments from Qatar under the umbrella of NIIF.
Abdullah Bin Mohamed Al Thani, CEO of Qatar Investment Authority (QIA) and Amar Sinha, secretary (economic relations), ministry of external affairs on behalf of NIIF Ltd signed the MoU on 5 June 2016 during the visit of the prime minister of India to Doha.
Under the MoU, NIIF will help QIA study investment opportunities in the infrastructure sector in India and develop a framework for exchange of information with regard to such investment opportunities, in order to enable both sides to decide on joint investments.
The MoU will remain in effect for 12 months during which period both parties will discuss and agree on the terms, principles, criteria for such investments. The NIIF will share with QIA a pipeline of investment opportunities available in the infrastructure sector in India
Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. They are long-term investors and access investment opportunities across all geographical areas, sectors and asset classes. The majority of their investments are outside Qatar with assets spanning a wide range of sectors and spread across asset classes. The fund deploys a wide range of investment strategies and invests through a carefully selected network of top-tier fund managers.
The Indian government had earlier approved the creation of National Investment and Infrastructure Fund (NIIF) with the aim of attracting investment from both domestic and international sources for maximising economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects.