Bengal govt to appoint financial advisory firms to increase private participation in PPP model projects

Kolkata, Oct 8 (IANS) The West Bengal government has taken new initiatives to develop the state's infrastructure, as the state Finance Department is going to prepare a new list of transaction advisors or financial advisory firms to increase private participation in public-private partnership (PPP) projects.

For this purpose, the department has issued an RFP (Request for Proposal), where applications have been invited from eligible firms, said a senior government official on Wednesday.

The senior official said that these transaction advisors will provide financial, legal and technical advice on various development projects in the state.

“They will consult and assist the government from the inception of the project to the tender announcement, selection of private companies and implementation of the work,” he said.

The work of the transaction advisors will include - financial and economic analysis of the project, legal aspects, environmental impact assessment, preparation of tender documents, determination of project costs and preparation of detailed project reports (DPR).

“These advisory firms will provide expert support in the entire process of how a major government project will be implemented from start to finish,” said the official.

According to him, about 10 to 12 firms will be included in this panel initially, whose tenure will be for two years. This new initiative has been taken after the tenure of the previous panel ended recently.

As per the instructions, the applicant must be a single entity (any company, firm or LLP). Applications cannot be made jointly or as a consortium.

Sources said, large-scale projects are being taken up for the development of roads, electricity, water and sanitation, communication systems, health, education and other social infrastructure across the state.

The PPP model is being considered an effective method to increase the participation of private companies or investors in such projects. Therefore, this panel of advisors is being created for proper guidance and expert support.

--IANS

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