Feedback Ventures to supervise Rs 5,400 cr investment by MSEDC

Mumbai, Oct 10 (UNI) Feedback Ventures today signed its largest ever mandate of a two year assignment from MahaVitaran, the Maharashtra State Electricity Distribution Company (MSEDC) to supervise over Rs 5,400 crore worth of investment across three zones of Maharashtra.

Announcing this, a company's release issued here today said that the agreement was signed by Parvesh Minocha, Managing Director of Feedback Ventures Engineering Division and U G Zalte the Chief Engineer, Infrastructure Plan of MahaVitaran.

In this assignment, Feedback Ventures will supervise a part of Mahavitaran's ambitious Rs 14,300 crore investment program to reduce T&D losses, provide reliable and quality supply to the consumers; meet future demand; and improve the existing system.

Feedback has been awarded three zones out of the nine that the state has been divided into. These are the zones of Akola, Bhandup, and Nashik, covering thirteen districts. Incidentally, Feedback is the only company to have been awarded three zones to provide project management consultancy services; others have two zones each. It is estimated that Rs 54,300 crore will be invested by the turnkey private contractors in these three zones alone.

Commenting on this contract, Mr Minocha said ''I'm delighted that MahaVitaran has awarded the largest share of its work to Feedback Ventures.

This shows the confidence that India's biggest electricity distribution company has in Feedback, in our experience, and in our people. I am confident that we shall more than meet the high expectations of our client.'' Feedback's role will be to ensure timely implementation and completion of the turnkey projects in each of the three zones.

Specifically, the company will have to finalise Turnkey Project Contracts for implementation of the total project. It will also coordinate and monitor the implementation of these projects in the zone, besides liasoning with competent authorities and statutory Bodies for arranging various clearances/permissions.

Feedback Ventures will ensure quality of works being implemented through the turnkey contractors in the project through a proper internal Quality Control system; and assist MahaVitaran in contractual or any other dispute resolution.

According to Mr Vinayak Chatterjee, Chairman, Feedback Ventures, ''This model of having an independent project monitoring is being tried out for the first time in big state government-directed investments in the area of electricity distribution. This is based on a similar, successful model followed by the National Highways Authority of India to ensure timely completion of large highway projects within quality norms.'' Feedback Ventures is also supervising hundreds of kilometers of National Highways on behalf of NHAI and private clients. However, this assignment from MahaVitaran's will be Feedback's single biggest contract in its sixteen-year history, it said.

UNI SN MJ NV1810