With a view to attracting investments from Qatar under the umbrella of NIIF, the National Investment and Infrastructure Fund (NIIF) Ltd. entered into an Memorandum of Understanding (MoU) with Qatar Investment Authority (QIA) on 5th June, 2016 during the visit of the Prime Minister of India to Doha on June 4th and 5th , 2016. The MoU was signed by Mr. Abdullah Bin Mohamed Al Thani, CEO of Qatar Investment Authority (QIA) and Mr. Amar Sinha, Secretary (Economic Relations), Ministry of External Affairs on behalf of NIIF Ltd.
The objective of the MoU is to facilitate QIA to study investment opportunities in the infrastructure sector in India and develop a framework for exchange of information with regard to such investments opportunities, in order to enable both sides to decide on joint investments. It will remain in effect for twelve (12) months during which period, both parties will discuss and agree on the terms, principles, criteria for such investments. The NIIF shall share with QIA a pipeline of investment opportunities available in the infrastructure sector in India
Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. They are long-term investors and access investment opportunities across all geographical areas, sectors and asset classes. The majority of their investments are outside Qatar with assets spanning a wide range of sectors and spread across asset classes. The fund deploys a wide range of investment strategies and invests through a carefully selected network of top-tier fund managers.
The Government had earlier approved the creation of National Investment and Infrastructure Fund (NIIF) with the aim to attract investment from both domestic and international sources for maximizing economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects.