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In line with the State government's ‘Vision 2023', FinanceMinister O. Paneerselvam introduced a Bill in the Assembly onTuesday to provide an enabling environment for infrastructuredevelopment in the State through private sector participation. Acknowledging that the government alone could not meet the totalprojected investment requirement of Rs.15 lakh crore, ChiefMinister Jayalalithaa had said a major chunk of financing had to bemobilised through non-governmental sources, including the privatesector, banks and Foreign Direct Investment. To realise the objective, the Finance Minister moved the Tamil NaduIndustrial Infrastructure Development Bill, 2012 for financing,design, construction, maintenance and operation of infrastructureprojects through private sector participation. A. Soundararajan (CPI-M) and K. Krishnasamy (Puthiya Tamilagam)opposed the Bill at the introduction stage itself. Institutional framework The Bill also aims to provide an institutional framework foridentification, prioritisation and implementation ofinfrastructural projects. The first task will be to identify and remove the bottlenecks indevelopment, prioritise critical infrastructural projects and workassiduously to place the State at the forefront of development,said Mr. Panneerselvam. For this purpose, the government willconstitute a Tamil Nadu Infrastructure Development Board, under thechairmanship of Chief Minister, which will continuously identifyproject concepts, facilitate their execution after due evaluationand achieve financial closure either directly through governmentagencies or through public private partnership (PPP) mode dependingon suitability, he said. The proposed Act will apply to all projects worth over Rs.500 croreimplemented by a public agency and the government by an order canapply the provisions of the Act to any PPP project with a value ofless than Rs.500 crore. The project will not apply to any Central or PSU project eitherindependently or as a JV with the State government. The Chief Minister will be the chairperson (ex-officio) of the TNInfrastructure Development Board and the Finance Minister itsvice-chairman. Special invitee The Chief Secretary and nine other secretaries, apart from its CEO,will be the other ex-officio members. The chairperson can allow anyperson as a special invitee. 21 sectors The board will formulate policies related to 21 sectors to identifyproject risks and allocate them between the stakeholders; preparefeasibility reports, scrutinise, evaluate and prioritise projectsand approve concession agreements for identified projects. It will designate the public agency which will implement a projectthrough public sector mode or through PPP and evaluate, recommendfinancial support from the government. I am an expert from steelrollcage.com, while we provides the quality product, such as Folding Rolling Rack , China Wire Mesh Container, Folding Rolling Carts,and more.
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