The irrepressible Nassim Taleb has coined the term ‘IYI, or Intellectual Yet Idiot’ to denote those prone to making lofty predictions, but without any skin in the game. Our company has 16 operational infrastructure assets in transport and energy sectors, and our complete skin is indeed in the game. Hence the following views, as a practitioner, on the outlook for 2018. These comments are for all infrastructure, not just for the small subset of PPP that gets disproportionate attention.
First, the mega-programmes of Bharatmala and Sagarmala would be launched for road and water transport, respectively. Having reviewed the plans for both, it appears that detailed and thoughtful planning has gone into both. We look forward to good project preparation, and rapid bidding out of individual packages. A six-monthly project-wise bidding calendar by government entities would be most welcome. Meanwhile, toll revenues from highways are rising steadily, as a lead indicator of an economic recovery. TOT (toll-operate-transfer) of highways would see at least one package bid out. This would lead to global investors focused on long-term operation and maintenance of infrastructure assets. Read More…
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