Panel to clear new projects | india | Hindustan Times
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Panel to clear new projects

india Updated: Dec 17, 2009 00:31 IST
Sayli Udas Mankikar
Sayli Udas Mankikar
Hindustan Times
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All new infrastructure projects in Maharashtra will have to be approved by a panel of consultants appointed by the state. This will include mega projects like the Worli-Haji Ali sealink and the Metro rail.

The consultants will assist agencies on the financial engineering of projects and their implementation as per the selected financing option. They will give recommendations on all projects taken up by civic bodies and state projects that are self-funded, or even those taken up through the public-private partnership (PPP) model.

A government resolution dated November 24 mentions a list of eight consultants identified for the panel, which will have a three-year term.

“It is necessary that agencies at the state and local levels have access to advisory support for implementation of PPPs and other transactions,” the resolution said. Panel members will not only play an advisory role, but “will be [also that of] financial engineers, including support for transaction services in each mode of financing, like loans from national and international institutions”, it said.