IDFC, Feedback Ventures launch Infra initiative

Infrastructure Development Finance Company IDFC and Feedback Ventures, a leading infrastructure advisory company today announced the launch of a new initiative to develop a stream of bankable infrastructure projects for Public Private Partnership PPP. The project, called India Infrastructure Initiative III, will work with and on behalf of government agencies to manage the process right from designing PPP projects to selecting bidders transparently and even monitor implementation of the projects.

This is the first joint initiative announced by the two companies, after IDFC picked up a 19.4 per cent stake in Feedback Ventures sometime back. Speaking at the launch, IDFC chairman Deepak Parekh said, 8220;Traditionally, infrastructure development has been the task of the government in the states and the Centre. Constraints on the resources in the government, particularly at the municipal level, means you have to depend on private sector resources8217;8217;.

While Feedback Ventures has over 400 professionals with expertise in the front-end work of infrastructure projects, IDFC has expertise in financing with a Rs 11,000 crore balance sheet and domain knowledge in infrastructure. III will start with a corpus funded by both companies, which will be used to prepare detailed project reports, structure projects and fund all the competitive bidding processes. These costs will be recovered from the winning bidder, thus making III a 8216;revolving facility8217; with a growing corpus.nbsp;