Crime Today News
The Maharashtra Cabinet on Tuesday approved the establishment of Maha – Infrastructure Investment Trust (Maha-InvIT) in a bid to accelerate infrastructure projects such as roads and bridges in the state and raise capital.
Selected assets of the Public Works Department, Maharashtra State Road Development Corporation and Maharashtra Infrastructure Corporation will be transferred to this trust. This will provide the trust with a lump sum of future revenue and will provide funds for new projects.
The decision aims at providing a new platform for raising funds for infrastructure development and provide an opportunity for stable returns to private and public investors. Under ‘Maha InvIT’, the government will set up a trust, which will have a structure like sponsor, investment manager, project manager. This trust will be implemented as per SEBI rules.
The concept of InvIT was implemented in the United States in 1960. The National Highways Authority of India (NHAI) set up the National Highway Infrastructure Trust in 2020 and raised funds. Maharashtra has become the first state to set up such an institution on the same lines.
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