Fitch sees stable outlook for Indian infrastructure sector

Fitch Ratings has said its outlook for the Indian infrastructure sector is stable for 2011.

A stable outlook for Indian infrastructure debt ratings in 2011 covers the spectrum of rated projects across the energy (thermal and biomass),transportation (roads,rail and airport) and urban infrastructure (solid waste management,desalination) sectors, Fitch Ratings Senior Director-Global Infrastructure & Project Finance Group S Nandakumar said here.

Fitch has rated several mega projects,which includes expansion of Mumbai airport,Kutch Rail for Mundra Port and water desalination plant in Chennai,he said.

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Among the power projects,Fitch has rated Mundra Ultra Power Project,Moserbaer and Jindal Steel and Power,he said.

The countrys positive economic performance and latent demand for key infrastructure assets are significant contributors to this outlook,Fitch Ratings Managing Director Dan Robertson said.

India is now one of the largest and most dynamic infrastructure and project finance markets in the world with the total number of project based SPVs at around 800,Fitch noted.

According to the Ministry of Finance public-private partnership (PPP) database,this includes roughly 500 concession based project SPVs (mostly in the transportation sectors). Besides,there are several privately-owned and financed independent power projects.

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