Bhubaneswar, Aug 11 : Odisha Cabinet on Friday approved the Public Private Partnership (PPP) policy to accelerate the growth of PPP ecosystem.
Briefing newspersons after the Cabinet meeting Chief Secretary P K Jena said the policy has been formulated by the Directorate of PPP, Finance department to help the state adapt to changes in the PPP ecosystem.
The PPP aimed for an optimum balance between private sector risk and rewards. The fundamental benefits of the policy is to provide value for money to the state exulting in better and affordable services over the long run.
The policy will leverage state and central government funds, support private investment and create a conducive environment to utilise the efficiencies, innovative news, and flexibility of the private sector to provide better infrastructure and service at an optimal cost putting emphasis on social infrastructure also.
The policy will also create a level playing field for all participants and protect the interest of all stakeholders and an institutional mechanism for speedy clearance of the projects.
According to the policy, PPP projects requiring a minimum investment of Rs. 500 crore would be approved by the High level clearance authority. The Empowered Committee on Infrastructure (ECI) will have the authority to approve projects of a value ranging from RS 10 crore to Rs 500 crore.
A District Project Committee headed by the District Collector and with representation from key administrative agencies at the district level and prominent Industry Associations will coordinate and facilitate the implementation of Infrastructure projects on the PPP route.
The policy includes a range of government incentives and assistance under Viability Gap Funding and Odisha Infrastructure Development Fund to boost the viability of PPP Projects.
