Infra financing authority for projects of Rs 50 crore and above

GUWAHATI: The Assam government today said infrastructure financing authority AIFA has been set up to create dedicated funds for infrastructure projects involving investment of more than Rs 50 crore in the state.

The main objective behind the establishment of Assam Infrastructure Financing Authority (AIFA) is to create funds for projects of not less than Rs 50 crore, an official release said.

The statement came after some reports suggested that the authority had been set up to provide funding to select projects.

The projects would involve state share of not less than Rs 15 crore and shall be critical to overall economic development of the state, it said.

Though so far Rs 3,500 crore has been provided in the budget since 2009-10 till 2014-15, Rs 1,400 crore was drawn and deposited in the accounts of AIFA and was in the Consolidated Fund of the state government.

An Executive Committee meeting held on July 5, 2012 had decided in principle that projects like Lakwa Replacement Power Project (Rs 79.20 crore), Lower Kapili Hydro Electric Project (Rs 450 crore), Four Power Stations each of 132 KV (Rs 134.95 crore) and a six-lane bridge over Brahmaputra (Rs 5.20 crore) would be funded under the AIFA.

So far as expenditure incurred by AIFA was concerned, the statement said Rs 29,59,90,048 was provided for paying compensation to the landowners against land procured for establishment of the Indian Institute of Information Technology ( IIIT), Guwahati.

An amount of Rs 1,12,360 was paid to IIT-Guwahati for consultancy services for the Lakwa Replacement Power Project, while Rs 76,01,154 was sanctioned towards the cost of feasibility study in respect of the six-lane bridge over the Brahmaputra connecting Narengi with Kuruwa (at North Bank) with a road link up to Dumunchowki on the National Highway 52.

The expenditure was funded from the interest earned on funds withdrawn for AIFA, while the principal amount of Rs 1,400 crore has been kept intact and deposited in the Consolidated Fund of the state, the statement said.

At present, the balance amount available with AIFA was Rs 215.90 crore, the statement added.