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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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