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IFC hand in AP coastal roads project
A Business Correspondent
International Finance Corporation, a member of the World Bank
Group, will advise Infrastructure Corporation of Andhra Pradesh on a coastal
roads project to boost economic growth in the state, according to a press
release. IFC will help develop public-private partnerships for the project. The
Vizag-Kakinada project, located on the east coast of Andhra Pradesh, is one of
the first to be undertaken by IFC since it was appointed as adviser to INCAP
last year. The project is expected to include about 100 km of radial roads that
connect a 150-km coastal road to NH-5. IFC will undertake a due diligence
review, help design the financial model, and hold consultations with potential
bidders. IFC will also recommend an approach for private sector involvement,
including allocating risks and responsibilities between the private and public
sectors.
[May 5-11, 2008]
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