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Jaitley seeks UAE sovereign wealth funds investment for NIIF

ARUN JAITLEY

Finance Minister Arun Jaitley invited sovereign wealth funds of the UAE to invest in National Infrastructure and Investment Fund (NIIF), saying it will provide good return. The Finance Ministry said in a statement that NIIF will attract good return on the investment made by the Sovereign Wealth Funds. It also said that it is a great opportunity for UAE Sovereign Wealth Funds and Pension Funds to make best use of it and make big investment in India.

According to the official sources, Abu Dhabi Investment Authority (ADIA) has shown keen interest in making investment on NIIF.The Finance Minister had a meeting with ADIA Managing Director Sheikh Hamed Bin Jayed Al Nahyan and Chairman, Abu Dhabi Crown Prince Court, where investment in various sectors including infrastructure was discussed.

Sheikh Nahyan said his officials will be visiting India on the 19th of this month to discuss this matter further. He also said that ADIA is interested in investing for establishing strategic oil reserves at Mangalore Port in Karnataka.