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Our Bureau

MR P. CHIDAMBARAM

New Delhi , Oct. 8

The Finance Ministry plans to organise an interaction with the private sector within a month to specifically review the working of the viability gap funding scheme.

Stating this at an infrastructure conference, the Finance Minister, Mr P. Chidambaram, said that issues regarding the financing of public-private partnership (PPP) projects would be examined at this interaction.

A scheme to enhance capacity building for development of PPP projects is being developed. The Finance Ministry would soon announce this programme to States and other Central Ministries.

On viability gap funding the response has been very encouraging after the initial lull, he said.

"So far, 31 proposals have been received, of which in-principle approvals have been granted to 12."

Initially, proposals were received only for highway sector, but proposals are also being received in other sectors, he said.

"We have now received proposals for MRTS project, solid waste management project and construction of a new Railway line."

Viability gap funding is usually resorted to as a measure to improve commercial viability of infrastructure projects.

On India Infrastructure Finance Corporation Ltd, Mr Chidambaram said that the company has made a good beginning and expressed confidence that the numbers could be multiplied in six months.

"So far, we have received proposals for 31 projects involving total investment of Rs 35,066 crore. Assistance of Rs 5,086 crore has been approved."

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