Qatar Prince To Invest Rs 1 lakh Crore In India’s “Smart City” Project

The government may be inviting the Americans, Chinese and Japanese to invest in India, but just one person is ready to put in Rs 1 lakh crore over the next five years.

While Prime Minister Narendra Modi might have skipped Qatar while planing his foreign visits, the Prince of Qatar had his eye on one of the fastest growing economies of the world. 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 Modi’s ambitious ‘smart cities’ project in coming years. This will be the first of its kind project in India. 

The 51-year-old Qatari prince has already tied up with a 31-year-old Delhi-based businessman, Mitesh Sharma, for taking the investment forward through projects in real estate, sea ports and airports, besides smart cities. According to a person working for Hamad, the two recently registered a company, NRS Enterprise Pvt Ltd, in India through which the investment would be routed. Mitesh Sharma, a young Indian entrepreneur is handling all investment proposals in India. While he is identifying various project areas and locations to be worked on, he has already met many senior officials in India. The conclusive decisions over investments will be taken by Sheikh Dr. Hamad himself.

Both the partners had met Andhra Pradesh’s Chief Minister Chandra Babu Naidu and Uttar Pradesh’s Chief Minister Akhilesh Yadav separately last week. 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.

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