Investment Pipeline

The current investments and pipeline have been originated and developed using the extensive network of private and public sector contacts of Cornerstone Advisors working closely with BAMA, the Investment Advisor. Further opportunities are sourced from lawyers, accountants, investment banks and other advisors to the infrastructure sector participants in India. This has manifested itself in both the expeditious deployment of equity and the development of a broad range of investment opportunities within Infrastructure India’s stated investment strategy.

Discussions are at an advanced stage with partners regarding potential projects in power (thermal, hydro and other renewable), rail, ports and airports. The equity requirement for these projects available to Infrastructure India is approximately £300m identified as at September 2008.

An option for further investment in connection with the Shree Maheshwar Project remains open to the Company.

Infrastructure India is targeting projects which are expected to commence planned commercial operations within 18 months of the Company's investment. It is a pure financial investor and does not take an active role in development of the project.