i Develop Stocks Advisory

IDFC plans logistics chain, eyes partners Infrastructure Development and Finance Corporation (IDFC) Projects is all set to build a pan-India logistics chain for creating industry-specific and tailor-made facilities. IDFC is currently scouting for partners with strong financials and global expertise in this sector. IDFC plans to venture into urban transport projects such as mono-rail and light rail transit system (LRT) in association with global transport biggies. It is expected that IDFC, which is in the process of listing its $1.25 billion fund for infrastructure projects, may raise more money for these ventures. IDFC is also venturing into new areas such as solid waste management and water supply solutions. “We are planning to get partners with global expertise in logistics and urban transport. Funds is not much of an issue, it is the expertise that the company is looking for to create facilities of global standards,” a senior IDFC official told. The company has invested in two logistics firms in the past two years. Last year, the company invested $25 million in Chennai-based Sical Logistics. In June this year, the company bought 22% stake in Hyderabad-based shipping and logistics firm Seaways Shipping for Rs 120 crore. IDFC plans to build a large network of supply chain solutions. As far as its water supply management projects are concerned, the company in consortium with Jamshedpur Utilities and Services Company and Ranhill of Malaysia has bagged a contract from Haldia Development Authority (HDA) in West Bengal for capacity doubling and maintenance of existing water treatment plant. The consortium will invest Rs 90 crore for the upgradation of the plant. IDFC has created funds worth $1.25 billion for investments in ports, roads, airports and oil and gas pipelines. The company recently tied up with Dubai Ports (DP) World for development of the Ennore port container terminal in 51:49 partnership. The company has also committed $522 million for its India Infrastructure Fund (IIF) –– a part of the Indian Infrastructure Financing Initiative. Last year the company along with India Infrastructure Finance Company (IIFCL), Citi Group and Blackstone announced a $5 billion fund to finance infrastructure projects in India.