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PPPAC approves $2.07 billion PPP projects
by Jo BlackThe fourteenth Public Private Partnership Appraisal Committee (PPPAC) meeting, chaired by Indian Finance Secretary, met on April 30, 2008 and granted approval to 13 projects from three sectors, namely, National Highways (10 projects), tourism infrastructure (one project) and Non Metro airports (2 projects).
The estimated project cost of the approved projects is Rs. 79.46 billion ($2.07 billion).
The projects are located in ten states including two projects from Assam.
Since its constitution in January 20006, PPPAC has granted approval to 52 projects, with an estimated project cost of Rs 350.68 billion ($8.9 billion).
The PPPAC has been adding value by shortening the approval process within the Government, reducing the transaction costs and acting as a central focal point for identifying and disseminating best practices in rolling out PPPs across sectors and Ministries of the Government.
Development and use of PPPs for delivering infrastructure services has now at least 10 years of precedence in India, with the majority of projects coming in line in the last 5 years.
As per the survey of the 221 PPP projects in the main sectors of focus, undertaken at the instance of DEA for preparation of the Online Database on PPPs, - where a contract has been awarded and projects are underway (i. e. they are either operational, have reached construction stage, or at least construction/implementation is imminent)- the total project cost is estimated to be about Rs. 1295.75 billion ($33.2 billion).
The road projects account for 78% of the total number of projects (36% by total value) because of the small average size of projects.
Ports, with a much larger average size of project, account for 17% of the total number of projects (47% by total value).
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