IL&FS- Financing Infrastructure in India

By Amit Srivastava
India Resource Center
April 16, 2003

The Infrastructure Leasing and Financial Services (IL&FS) was formed in 1987 with the support of the Central Bank of India (CBI), Housing Development & Finance Corporation (HDFC) and Unit Trust of India (UTI). One of its mandates is to facilitate financing for infrastructure projects in India, as well as provide financial services. IL&FS provides various services for infrastructure development, including "project conceptualization, project development, financing, sponsorship, project management and project implementation."

In addition to the original institutions at the time of its incorporation, IL&FS shares are owned by the ORIX Corporation of Japan (21%), the International Finance Corporation (an arm of the World Bank) (9%) and Credit Commercial de France (5%).

IL&FS has invested in various projects, including the NOIDA-Delhi toll bridge, various road projects in Gujarat (Vadodara-Halol Road Project and Ahmedabad-Mehsana Road Project) and in Tamil Nadu, where the Tamil Nadu Road Development Corporation Limited (TNRDC) is a 50:50 joint venture between IL&FS and the Tamil Nadu Industrial Development Corporation Limited (TIDCO).

In the water sector, IL&FS is very active in Tirupur Water Project, the Dewas Water Project in Madhya Pradesh and the Vizag (Vishakapatnam) Water Project in Andhra Pradesh.

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