By P. Vijian, NNN-Bernama,
New Delhi : Malaysian companies are leading investors in public private partnership (PPP) projects in India, involving nearly six major infrastructure ventures.
The Economic Time of India reported that Malaysia topped the list, followed by the United Kingdom with four projects, Mauritius (three), two each for France, Germany, United Arab Emirates and the Philippines, and one each for the United States and Switzerland.
The paper, quoting Indian Finance Ministry sources, said foreign participation in PPP ventures in the country was relatively minimal, engaging in only 20 projects out of the 221 rolled out by the Indian government.
“Initially, foreign companies were not showing much interest in PPP space, but things are beginning to change. The projects in our databases are either at the stage of construction, or at least where the construction is imminent.
“We are sure a number of foreign players will figure in those projects which are at very initial stages,” said the ministry source.
So far, foreign equity participation of 27 foreign companies in India’s PPP projects was only RM1.7 billion while the total cost of PPP undertakings were worth nearly RM12 billion.
Some of the prominent projects where foreign companies have equity stake are the modernisation of the Bangalore, Delhi and Mumbai international airports, Delhi-Nodia toll bridge and the Jawaharlal Nehru Port Trust (JNPT) container terminal in Mumbai.
Leading Malaysian companies in India are Malaysia Airports Holdings Bhd, involved in modernising the Indira Gandhi International Airport and IJM Corporation in construction and upgrading major highways.