IFC to advise INCAP on Vizag-Kakinada project

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New Delhi, Apr 23 (UNI) IFC, a member of the World Bank Group, today said it will advise the Infrastructure Corporation of Andhra Pradesh - INCAP, on a coastal roads project to boost economic growth in the state.

IFC will help develop public-private partnerships for the project, a combination of new and existing toll roads and connecting radial roads, said a statement.

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 advisor to INCAP last year.

INCAP Vice Chairman and Managing Director Sanjay Jaju said roads are an important component of the physical infrastructure needed for development and growth.

He said, ''An efficient transportation system is the lifeline of an economy, and this important project will boost the state's economic development.'' The project is expected to include about 100 kilometers of radial roads that connect a 150-kilometer coastal road to National Highway 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.

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