FinMin appoints transaction advisors for PPP projects
August, 29th 2007
The Finance Ministry has selected 11 'transaction advisors' such as PricewaterhouseCoopers and Ernst & Young for assistance in undertaking infrastructure projects through public-private partnership route.
The panel, finalised through an international competitive bidding process last week, would work out technical and economic specifications of an infrastructure project before handing them over to private firms for development.
These advisors will assist the Centre and the states for setting up Public-Private-Partnership (PPP) projects, official sources said.
Among others, the Ministry selected Abacus Legal Group, Crisil Infrastructure Advisory, Deloitte Touche Tohamatsu, Ernst & Young, Feedback Ventures and Grant Thornton of UK.
The panel also includes PricewaterhouseCoopers, RITES, International Finance Corporation, Infrastructure Development Finance Company and Infrastructure Leasing & Financial Services (IL&FS), the sources said.
They said Finance Ministry is concerned that PPP projects have not taken off so far, although the government expects a major portion of targeted around 450 billion dollar investment in core sector through this route.
State governments have also been demanding that there should be a pool of experts that could assist them to firm up all aspects of the project before offering to the private players for development.
The appointment of advisors is expected to give a fillip to infrastructure projects, especially in the road, ports, airports and metro train service, in which private sector has shown keen interest, the sources said.