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The government may be inviting the Americans, Chinese and Japanese to invest in India, but just one person is ready to put in Rs 1 lakh crore over the next five years. Enthused with the new government's spirited approach towards new investment, Prince of Qatar Sheikh Hamad Bin Nasser A A Al-Thani, member of the ruling family, is looking at investing the sum in at least 10 smart cities. The 51-year-old Qatari prince has already tied up with a 31-year-old Delhi-based businessman Mitesh Sharma for taking the investment forward through projects in real estate, sea ports and airports, besides smart cities. According a person working for Sheikh Hamad, the two have recently registered a company, NRS Enterprise Pvt Ltd, in India through which the investment would be routed. "PM Narendra Modi's ambitious 'smart cities' project has caught the attention of the Prince. The investment will be made over the next five years," said the person. The investment announcement came after the two partners met Chandrababu Naidu, chief minister, Andhra Pradesh, on November 22 and Akhilesh Yadav, chief minister, Uttar Pradesh on November 20. The focus of this huge investment is on ten smart-city projects in a first phase, besides investment power, solar energy, infrastructure development, healthcare and education. They are aiming for the first project to take off by February-March 2015. The Union government has decided to support the development of 100 smart cities in the country. According to the High Power Expert Committee (HPEC) on Investment Estimates in urban infrastructure has assessed a Per Capita Investment Cost of Rs 43,386 for a 20-year period. Their estimates cover water supply, sewerage, sanitation and transportation.
Read more:
Bumper investment comes calling from Qatari Prince | Business Standard News
Read more:
Bumper investment comes calling from Qatari Prince | Business Standard News