PPP projects: pact to be signed today

The government has cleared the decks for private investment in urban development. The Partner Kerala Mission is set to ink an agreement with urban local bodies and development authorities here on Monday to formalise Public-Private Partnership (PPP) projects.

The Partner Kerala Mission will also sign a separate agreement with Kitco, the transaction adviser.

RFQ cleared

The government has already cleared the two pacts and the Request for Quotation (RFQ).

The signing of the agreements will kick-start the PPP projects formulated by the Urban Affairs Department, an official pressnote issued here said.

As many as 28 municipalities and corporations and the Kollam, Kozhikode and Greater Kochi development authorities have submitted a total of 41 PPP projects for Rs.2,000 crore to be implemented under the pact with the Partner Kerala Mission.

These include construction of bus terminals, abattoirs, shopping complexes, flyovers, diagnostic centres, and waste treatment plants. The Rs.450-crore project to develop Sakthan Nagar at Thrissur is the project with the largest outlay. Several private firms have come forward to invest in urban development projects. The project works are expected to begin in two months, the pressnote said.

The signing of the agreements will take place at Mascot Hotel here at 10 a.m. in the presence of Chief Minister Oommen Chandy. Minister for Urban Affairs Manjalamkuzhy Ali will preside over the function.

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PPP projects: pact to be signed today