Prince of Qatar Sheikh Dr. Hamad Bin Nasser A A Al-Thani , member of ruling family along with his Indian partner Mitesh Sharma, is all set to invest approx Rs. 1,00,000 crores in Prime Minister’s Modi’s ‘smart cities’ project in the coming years.
The focus of this huge investment is on ten smart-city projects in a first phase, whereas, the partners have shown interest in investing in various other areas well – power, solar energy, infrastructure development, healthcare and education. They would be laying the first foundation key stone ceremony in the next three months (most probably in February-March, 2015) and if things go well, they might think of investing more.
Mitesh Sharma, a young Indian entrepreneur is handling all investment proposals in India. He is identifying various project areas and locations to be worked on. He has already met many senior officials in India. However, conclusive decisions over investments will be taken by Sheikh Dr. Hamad.
The partners had met Andhra Pradesh’s CM Chandra Babu Naidu and Uttar Pradesh’s CM Akhilesh Yadav separately. On the behalf of NRS, sheikh Dr. Hamad and Mitesh have already signed a MOU in AP for a smart city project. Investments worth Rs. 12,000 and Rs. 60,000 crore will be made in Uttar Pradesh & Andhra Pradesh respectively. 38,000 crores will be diversified in sectors like power and natural gas. Moreover, the team is already working on huge investment plans for various other projects.