The Hindu : Andhra Pradesh / Hyderabad News : IFC to study coastal road corridor project

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Thursday, May 01, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

IFC to study coastal road corridor project

The project is likely to include 100 km of radial roads
These roads will connect the 150-km stretch to NH-5

HYDERABAD: Setting the ball rolling for the coastal road corridor project, the State government has roped in the International Finance Corporation, World Bank group’s member dealing with private investments, to study the Kakinada-Visakhapatnam road project and suggest a suitable public-private partnership model.

The project is likely to include 100 km radial roads that will connect the 150-km stretch coastal road to National Highway 5.

As part of the project, the IFC, an advisor to the Investment Corporation of Andhra Pradesh (INCAP), will complete structuring of the overall PPP model, evolve bid process management and bring the developers evaluating their performance.

“The government will ultimately finalise the bidding process and select firms for awarding works,” INCAP Managing Director Sanjay Jaju told The Hindu. According to him, the project is likely to cost in excess of Rs. 500 crore and the IFC will take two to three months to submit its report. The IFC will undertake a due diligence review, help design the financial model, and hold consultations with potential bidders besides recommending the approach that should be adopted for private sector involvement and responsibilities between private and public sectors.

Mr. Jaju said the project providing for an efficient transportation system was sure to boost the State’s economic development.

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