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Feedback Ventures wins ADB mandate to revamp Lanka roads

Written by: Staff

Mumbai, May 3 (UNI) Integrated infrastructure development major Feedback Ventures has won an Asian Development Bank (ADB) mandate to assist Sri Lanka's Ministry of Highways and its Road Development Authority (RDA), to increase their ability to attract greater private investment in the island nation's roads, said a release here today.

The mandate won against international competition involves suggesting appropriate policies as also assisting the RDA in building up a consensus among various stakeholders in Sri Lanka on the necessity and direction of the reforms suggested.

Where necessary, Feedback will also arrange meetings between RDA officials and India's NHAI so that both sides can learn from each other's experience, the release said.

The team of experts from Feedback Ventures will review the financing arrangements for upgrading Sri Lanka's national highways and working out ways to increase private sector participation in the development of the country's national highways besides developing a model concession agreement.

The Feedback team will also determine what reforms are necessary in the policy, regulatory, institutional and financing arrangements of RDA's working and developing a plan for the RDA to ensure public consultation, which will strengthen the implementation of various highway projects, added the release.

Feedback Ventures Chairman Vinayak Chatterjee said that the winning of this mandate ''shows the increasing international recognition of Indian businesses' abilities in areas beyond IT, pharma and construction.'' UNI JJ PP SKB1903

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