Cabinet okays setting up of trust for infra investment

Mumbai: In a move to accelerate infrastructure projects across the state by raising capital from the open market, the Cabinet meeting held on Tuesday approved the establishment of ‘Maha InvIT' (Maharashtra Infrastructure Investment Trust). The meeting was chaired by chief minister Devendra Fadnavis.
This decision is seen as providing a new platform for raising funds for infrastructure development and will offer private and public investors an opportunity for stable returns. InvITs, or Infrastructure Investment Trusts, are investment vehicles that pool money from investors to finance and operate infrastructure projects, such as toll roads, power plants, and pipelines.

According to a government release, under ‘Maha InvIT', the govt will establish a trust with components such as sponsors, investment manager, and project manager. tnn