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    © All Rights Reserved
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    8 views7 pages

    Stages of Infra Project

    Uploaded by

    PRATIM MAJUMDER

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 7
    “vai, on | —_ ——qcx“~ Seg, Chapter 2 Infrastructure Development ey mh, ag nits Projects Ada ley Mey Cony 2.41 GENERAL The issues relating to the implementation of an infrastructure project differ with each stage of its implementation. It would, therefore, be relevant to obtain a bird's eye view of the broad stages through which an infrastructure project is implemented The stages of implementation for a project can be generally stated to be: (i) the gestation stage (ii) the development stage (iii) the construction and start-up stage (iv) the operational stage (v) the termination 21.1 The Gestation Stage The importance of the gestation stage is sometimes underestimated, nevertheless, it is a crucial stage in the process of project implementation. This stage essentially comprises pf the development of the concept of the project, the preliminary study of the basis and feasibility of the project. The importance of this stage is that it provides the foundation for the project. The main decisions taken at this stage are: whether to go ahead with the project, and with what budget, the scope of the project and the proposed structure for its implementation, all of which together provide the basis on which the project implementation process 1s commenced, The critical aspects of this stage is that of research and development of the project concept and feasibility which culminates in the decision to develop the project. Ideally speaking, a detailed risk anal and structure 7 Inthe pea ie pe 102 projec te the masini (CLIO Sih lett aes rea nn creme tn ae ea ele ad pote A canon whe yee at ve ite pve pon aa ee sup een rp ‘Shatin etl envrenoen tad wget rete tl he pores ge Ean rton abt te prem Seal orate Fentet exe fad ea te the rage fe incest 28, Pet ep kom # onan ured develop no mal cps aga j SCout nvesment kay beeen ee read of Unesann’ Hea of Speers 212 The Development stage This sage of jen Brogden Bic sae y denied commen {Be me te deckion wo implenen te pert hs bese es jest hes cold fom the gestion sage mbes a cei rive i tn de ibetemie ‘ ‘e2siesons tat varus sels may eo aon sea see oye spate (Ament) Ac 300, pened Sais were pied fer anna tare wit oreo eh SePebconquentys patented company enjoyed eter Sem 2 uty omcing! Comesuet to ee Compacts (Amendment) Ac Son's 86 of he Companies Act 1956 has ees amended wo ll he Zia abe capt sf any company led by sats (which would ‘Sieteven patie compare) t hae ferent igus a to dividend, Stung ot hernize naecordance nth uch rls ard sbjet such ‘Galions a maybe prescribe Tha mould ave cabled ven publi, ‘ited coogi ave eran Resin nsbaing ety nin weve im Mach 2001 tc Ctl Goverment formated te res, Techy the Companies (uae of Share Cantal wih Dileretal Voting, Figho) Rules 2001 subject to which such equy shares wih een Ribts to dividene, yong of cherese coud be need Toete TO, ‘Mutat stringent condos for crmpany ose equity shares with “Aeenal gis the nin amount which aha the relevant company Should have had distbuable pote fr preceding re Eman Years, preceding the yea in which was died to ase ach shares These puation donot cake ruane of equ shares with ferent Wong, ‘ighs a option for scaring SPVs for infasucre rect oa Sem that the Meibliy iil offered by the ameodments unde the {Compan (Amendment) Aet 2000 were limited in their scope by the fules made by the Central Goverment Private Limited Companies will Fil be the most preferable option for a SPV for infrastructure Os fil such tne as a sutable legal framework cluding regulations thereunder) are formulated that enable mace options for structuring implementation of project, hough a parmetship oF an unincorporated ‘ey stuctute i also used internationally as project vehicles, n Indi this strctre fora project vehicles isnot very effective becatn: (the ability in a partnership could be unlimited, i) the tx holiday under the Income Tax Act 1956, is not avaiable commpletely and beyood doubt fr partnerships. or unneorporated, oa are Das, eri span ct ined pe ste arentormsng ast sted Farmer a a 8 mh Ne lw pin a ce Samet a Decessary because the absence of such a deste uf cern) with decumctanon opel bop popes hs ay beesupoed inthe following sequence. e ocluding the agreementa with the vanous oquity partecipants, ss shall ie i th ene eel be perm a uients An each of the proyect documents and that i oul be tri the eee the mde ae ele — Bere eens Proce Proreserietent ‘tera wy 4 the lenders enginee) ot ihm agrove ne sopin the Owners Engine concep the ecepance of he completed, rt. This i the phase where al the Banca froicton of the project andthe projections im flo te the my Foe the fic are teste Apart from minting and operating the fc, tbe other main sctiviies during thin © ae the determination, levy and cllection igh private participation. the time of finalisation spe sad mato, thes are yer o clear deans ee documenta eattss shoul! be covered. The areng oat perce tion that forms the framework forthe ingles ey of the Fespect to C8 conkeguences of termination and deter oreo whch shoul he a omensation tothe projet compan 22 PARTICIPANTS mocap their diverse interests in ther OF the participants in onde relating to the mr 9) eset Gi) the sponsors; ” SS Secs, ©) aS ct, (0 hag op Sissi, Sm Speer Soto ig developed withthe participation of the tems ofthe numberof partpants and also Project. Its esenta o Understand the nae ms inorder to clearly identity their terest andthe isk Tject that should be allocated to them andthe sks that willing to accep. Typically, the main participants would 22.1 The Government ‘The goverment is represented ether though a ministry oF «government body (such as 2 stale goverment of 2 municipal body) with its own body of authorised personnel empowered to negotite and tke decisions regarding the implementation of the project. The main interest of the ‘government in elation tothe implementation ofthe infrastructure project by a private entity should be to ensue that only necessary and required projects are authorised and the projects that are authorised are indeed implemented within the time frame and at the costs that ensure theit ability nt only ata commercial evel bu alo ata social/public level. ‘This would entail that an adequate and balanced framework is provided to ensure the speedy implementation ofthe projects. This also ensures thatthe facility is bilo the required standards and within the reasonable ‘oats estmated atthe time of authorisation of the projet <—

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