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Come elections, come advertisements... Why land prices zoom in TN? A rich pool of talent not utilised…. Welcome focus on core competence A friendly business group Lesson from Chandrababu Naidu Valli, they are more marginalised Rs.1600 crore paper board plant of TNPL No engine for this car Discoms deserve better… Delhi Chalo... Delhi returns to BJP Engineering seats go abegging Remembering Indira Sivasailam... Dr C Rangarajan returns to Chennai Editor's Notes Adapt Vajpayee dinner diplomacy Rahman at CIC Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai GNS - 100: our first subscriber Russi Mody – a tribute IPL type auction for VCs? Focus on quality of power - its only around 170-180V No mega rail project for Tamil Nadu Maximising the micro pricing … F C Kohli - his concerns all embracing A professional at the helm of IRDA... The sea- saw battle continues... Sweeter prospects for sugar GM Technology at last! Shaming of Tamils by Tamil farmers at Delhi Paytm karo... He continues the focus on social amelioration Modi and the lady EEC at the National Media Centre A welcome initiative by the judiciary Bihar – Nitish Kumar adopts the Lalu model Quality silica from Neyveli Return to king coal for urea... Convulsions in The Hindu Kudos to NDTV... Fall in crude prices help in oil sector reform Parliament in paralysis... S V Raju – a ‘good’ true liberal The Jan Dhan bonanza Strengthen the base... TN accounts for the largest recruits by the IT sector A proud Madrasi Naidu will soon build a new Hyderabad When Ratan Tata visited SRM TGS- The king storyteller Medical costs hit the roof... Fuel for thought Contrarian cousins Eternal support for capitalisation of PS banks The ‘Jayanthi Tax.’ PPP mode for upgrading Corporation Hospitals Colour-Chem’s colourful KRVS TN-leverage strength of BHEL, NLC... Inflation: are we emulating Argentina and Brazil? The star of Spencers is no more A think tank for Chennai A glass full of corruption Delhi is distant… CRS, a jewel among managers, is no more. B H Kothari - a tribute No Maha Koottani in TN... Pharma – overdose of copying Naidu’s return augurs well for Seemandhra Tihar, Puzhal not different from Parappana Agrahara SoA @ 80 Cement prices continue to rise… Waning interest in public discussions… Polls and promises Marketing expert Balagopal is no more Revving up the manufacturing sector Solar, solar everywhere … Mersal magnified Why this malaise in medical education? Silver Years of Madras Musings Shanti and Sadhana through Music For whom the MIDS bell tolls? Readers' Mail Banning booze... The ‘Ayyo-yes’ is no more The power-full Hindujas Which side are you, Montek? TIAM turns a full cycle Gay abandon in pricing Lalu’s envy, India’s pride Solar thermal shines… Muffled voices for merit… New IT products of Ramco in the pipeline… West Bengal: mindless malignancy Tatas moving out of urea production... CIPET hqrs to stay at Guindy – for the present? Road development slows down Another Indian music maestro at the UN Computation of GDP – conundrums continue Infrastructure funding – lessons learnt Tribute – M V Murugappan to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines When online building permits work…. The rise and fall of Annamalai University Where a state respects its litterateurs… Liberal imports idling indigenous capacities Fortune for Indian Airlines Align crops to agro climate endowments… A C Muthiah – his munificent bequeaths to science He saved millions from starvation... Robber barons everywhere A Grand Finale for SN’s MS centenary at the US… Breaththrough in malaria control More tributes to GR Excel Generators provide the vital back-up The Swadeshi Trump EVM is tamper-proof R Sridhar steps down as CEO of Shriram Capital Wise Presidents When small is no larger beautiful.. Don’t seem to feel the pulse… L&T: focus on infrastructure and more infrastructure… Making ‘my Amaravati’... Tribute – Manikam Ramaswami Modi storms Silicon Valley IAS invades NDDB... Air Asia India will set new benchmarks for budget travel An informal presentation - analytical, forward locking... Shale gas and its shallow future TN – agglomerate land holdings without alienating ownership Welcome GST Tax agriculture PC’s preference for professionals More Shakthi to Das’ elbow Editor's Says Kulandai was a giant ONGC at KG Basin Whistle-Stop Tour of Raghuram Rajan More Shakti to resource mobilisation... Gas is the way forward Recognition to role of NBFCs.... A Grand Finale for SN’s MS centenary at the US… Like Hinduism: many paths to reach God... Tribute Adharma of opposition politics Not just in-laws (and outlaws); they’ve renowned academics at the helm! Online not in line with brick and mortar businesses... Measuring roof tops in terms of KW/MW Small units prefers to remain small... WTO Meet: resolved to meet again Haul over the coal Limit foreign borrowings to hi-tech, export potential projects... Permanent secretariat for TN GIM L&T- the specialty of special purpose vehicles Tough task taking states together The balancing act Music happens Auto components surge… …and of a popular trade leader Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated London, London Narayan Should we change the official year? Cutting the nose to spite the face Funding the un-funded Insurance companies bleeding, yet no decision on increasing FDI limit! Quality education through the PPP mode Welcome changes that testify to Jayalalithaa’s return to health The Gulf aviation boom How Air-India loses customs... Wanted: a second airport for Chennai Airlines in India: cost and space The Ports’ Pasha expands into Tamil Nadu Nuclear power at the nucleus All eyes on Sankara Nethralaya Sri Lanka votes for change A yen for wastage… Kinetic Karnataka This scant respect for Law Scientists urged to take up farmer-oriented research CII projects higher growth… The rise and rise of KCP Build close rapport with business leaders Towards speedy justice Poor quality of university VCs An inexplicable neglect S Ramanathan – a versatile musician, musicologist Diamond jubilee of Egmore Samskrt School Godspeed, Chief Minister JJ MHC should not return to its old indisciplined ways Revive development banks... The why of tax incentives Reliance’s TV – 18 ready to launch Tamil News Channel TELANGANA at last…BUT Tribute – UCAL Selvan… Streamlining mandatory third party cover Things happen by accident and not by design... Bihar elections - the Rajaji formula worked When the President was rendered homeless… The nuclear option When nations steal growth from one another… More heat than light Where is Rajaji? Alexa – Talking Wikipedia CSR and CMI: promise of another Srinivasan Ramanujan... There was flood of milk. Reason: no milk commissioner! Fortune 500 review Cleaning Ganga – relocate tanneries and install electric crematoria Odisha: spectacular win by Naveen Patnaik When TN politicians can emulate Kerala's China invests in India Plummeting profits of PSBs Protest masters... For whom the bell tolls? The few handicaps... Padma Bhushan for A Ramakrishna Intellectual of rare qualities Boy, can you beat these? Multi-faceted Venkat Preserving for the future Demise of a media baron... The brown list of Venkitaramanan Make standards certification mandatory... Building loyalty through the stomach Vibrant Gujarat Roaring Ro-Ro facility Tatas moving out of urea production... Put expensive assets created to use... Noble nonagenarians... Land reclamation from sea appears cheaper! Telangana in top gear… Five star activism stalls development activity Secularism and anti-Hinduism IPL - no surprise this scam Of course, Gujarat is vibrant Moily’s bold thrust A more liberated TN… An enemy’s enemy is a friend Delhi is distant Increasing non co-operation of state leaders Mu Sigma – is no more Sweet news for TN sugar mills Poor representation for Kerala and TN in Cabinet Shipping woes of Chennai companies Welcome thrust on trade in Modi’s foreign visits...
 
Infrastructure funding – lessons learnt

At the TN Global Investors Meet dozens of experts discussed in parallel sessions presided over by the state ministers/senior civil servants.

A media person had to contend with a major problem: since these were conducted in parallel, one had to hop from one hall to another to listen selectively  few specialists of one’s choice. The second problem related to the organiser’s presenting too many speakers, each given just five to ten minutes,  that left little time for interactions. One looks forward to the consolidation of the presentations in a book form.

I sat through the session on Enabling Mega Infrastructure projects. Planning & Development Secretary, S Krishnan, made a lucid presentation on the problems encountered by large Infrastructure projects. He threw light on the need for more thorough preparation of funding the projects adequately, as also to anticipate contingencies and developments that would demand higher volume of funding. These will have implications on the viability of the project and the repayment schedules of loans. Krishnan suggested providing for adequate viability gap funding.

The present crisis suffered by banks and other lenders has risen due to the failure on this score. The consequent reluctance of these financial institutions to fund infrastructure projects received attention in this session.

S B Nayar, CMD, India Infrastructure Finance Co Ltd. outlined several measures such as sale and lease back of assets and securitisation. Lack of attention to such details resulted in hundreds of vital projects announced by the UPA I and UPA II governments remaining non-starters. The ultra mega power project concept announced at the beginning of the UPA I regime which held great promise is a case in point. At the closing years of UPA II, Finance Minister P Chidambaram frequently mentioned of projects valued at over Rs 700,000 crore getting stuck for various reasons.

K Venkatesh, MD, L&T Infrastructure Development Projects, pointed to yet another problem: the difficulty of concessionaries to realise fully the promise of toll collections in many of the BOT projects. Venkatesh  also referred to two other issues, of an effective disputes resolution mechanism and the difficulty of settlement of dues. The judicial system and mechanism for settlement outside the traditional legal system both need to be tuned up to deliver quick decisions.

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