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