NORTH-East is blessed with abundant natural resources. But due to lack of proper infrastructure, businessmen are unwilling to invest in the region. More investment will help create more jobs for the youth of the region, who are otherwise easy targets for the insurgent groups. 

In a landmark decision, Infrastructure Leasing and Financial Service Limited (ILFS) and North Eastern Development Finance Corporation (NEDFI) will pool their resource and expertise in the North East for project development, project financing and corporation financing in different sectors in the region. The two had signed a Memorandum of Understanding (MoU) in this regard recently. In the initial phase they will focus on the power sector and rehabilitation and strengthening of industrial estates in the region. They will try to generate hydroelectric power unexploited so far, which could be tapped through public-private partnerships.

According to ILFS, Assam State Electricity Baoard had already initiated a reform process, expected to create opportunities for private sector investments. Several coal and gas based thermal power stations of the region in need of rehabilitation and renovation would also receive attention of the two financial institutions. The partnership will set up the inflow of substantial private capital to supplement government investment for infrastructure, tourism and industrial development in a spirit of public private partnership.

The NEDFI’s strong manpower base, goodwill and networking ability within the region and ILFS’ huge experience and expertise in bringing private sector capital to infrastructure projects will provide synergistic advantage for creation of viable infrastructure projects in the region.

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