08th September 2010, www.dailynews.lk
Pathfinder Advisory Services, a local organization and Feedback Ventures of India, entered into a strategic alliance last week to attract Indian investments for local infrastructure development projects.
Pathfinder Advisory Services, the advisory arm of Mercantile Merchant Bank Group (MMBL) will provide necessary information on investment opportunities under this initiative.
The institute will also identify potential investment and study the possibility of going through the project.
Feedback Ventures is a joint venture involving three large infrastructure development companies in India, namely Infrastructure Development Finance Company (IDFC) and Housing Development Finance Company (HDFC), and Larsen & Toubro Limited.
This will pave the way for Indian private sector participation in infrastructure development projects in the country. This would include private/ public sector partnerships.
This alliance is a manifestation of the increasing interest on the part of Indian companies to pursue investment opportunities in Sri Lanka now, Pathfinder Advisory Services Chairman Bernard Goonetilleke said.
This collaboration will give priority to developing projects and offer consultancy in the infrastructure sector in Sri Lanka in strategic and financial advisory, planning and engineering design, project management and operations and maintenance.
Triple I, a joint venture of Feedback Ventures funds project development under PPP models and recover cost and success fee, post successful signing of concession agreements between the government and the private sector partner, relieving the government of the burden of expenditure on project development.
Following discussions with officials in Sri Lanka, Triple I plans to select several projects, which are viable under their model and allocate funds to develop them, thereby facilitating interested parties from India and elsewhere to bring in much needed investment for development of projects.
Image: Bernard Goonetilleke