NIIF, Qatar sign MoU

Coinciding with Prime Minister Narendra Modi’s visit, Qatar has signed an agreement with India’s Rs 40,000 crore National Infrastructure Investment Fund (NIIF) evincing interest in investing in the infrastructure sector.

“With a view to attracting investments from Qatar under the umbrella of NIIF, the NIIF entered into a Memorandum of Understanding with Qatar Investment Authority (QIA) on June 5, during the visit of the Prime Minister of India to Doha,” the finance ministry said. The objective of the MoU is to facilitate QIA, the sovereign wealth fund of Qatar to study investment opportunities in the infrastructure sector in India and develop a framework for exchange of information with regard to such investments opportunities, in order to enable both sides to decide on joint investments.

It 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 shall share with QIA a pipeline of investment opportunities available in the infrastructure sector in India.