India tracks PPPs
27 June 2012
The Indian government has launched a new system to track large PPP deals and other major projects.
The Investment Tracking System will keep up-to-date with all stages of a major project’s procurement and is aimed to keep schemes on schedule.Contractors will be required to provide regular updates to the organisation, which will be run out of India’s finance ministry, and will have to provide the cell with reasons for any delays to projects.
It will now be mandatory for promoters to provide details on their projects online, as well as reasons for any delay, on a monthly basis.
The Indian government hopes the move will speed up the delivery of major infrastructure projects, many of which have faced delays including problems in the private sector acquiring land.
