The Delhi Metro, the Yamuna Expressway, and Tata Power’s Mundra ultra mega power project in Gujarat are among the six ventures that have figured in the list of the world’s most innovative, impactful infrastructure projects prepared by international accounting firm KPMG.
The other three projects in the KPMG’s Infrastructure 100: World Markets report are the Gujarat International Finance Tec-City (GIFT), the Interceptor Sewage System and the Narmada Canal Solar project.
These projects were evaluated on the basis of their scale, feasibility, complexity, innovation and impact on society, KPMG said.
“Each country has its own approach to developing and funding infrastructure, yet all share the universal challenge of creating the right conditions to attract investment so desperately needed,” James Stewart, KPMG’s Chairman of Global Infrastructure said.
Opened in 2012, the 165-km, six-lane Yamuna Expressway is India’s longest motorway, connecting the capital New Delhi with Agra and creating a corridor for economic growth, the report said.
By dramatically reducing the travel time between these two historic cities, the $1.9-billion project will have a lasting impact on villagers, tourists, traders and working professionals and should expand trade.
The expressway also has symbolic value by showcasing the country’s ability to develop world-class infrastructure.
Ten years after its first line opened, the $2.3-billion Delhi Metro continues to expand, setting a shining example of how to carry out an effective public works programme.
Taking heed of the problems experienced by the Kolkata Metro — which was badly delayed and 12 times over budget — the development team utilised innovative procurement and strong project and contract management techniques, it said.
The $4.4-billion Mundra Ultra Mega Power Project is a major, coal-fired thermal power plant serving the states of Gujarat, Rajasthan, Maharashtra, Haryana and Punjab.
A 25-year concession has led what is a landmark PPP for the Indian energy sector, the report said.
The Narmada canal solar project, another innovative initiative in Gujarat, conserves water and generates energy.
The $17.9-million Narmada Canal Solar project will place a solar photovoltaic grid over the top of a 5.5 km section of the canal, preventing water from evaporating and producing renewable power, the KPMG report said.
In a form of PPP, Megha Engineering and Infrastructure Ltd will build the plant and maintain it for 25 years, it said.
Traditional financial services and IT centres may soon be looking over their shoulders at the Gujarat International Finance Tec City (GIFT) in India.
The $20-billion mega-project combines connectivity, infrastructure and transportation with sustainable and environmentally sensitive growth.
India’s $323-million Interceptor Sewage System is designed to divert sewage to treatment plants, enabling the river’s water to be used for horticulture and cleaning purposes, the report said.
Stewart, in the report, also said private capital continues to play a critical role, but investors need economic and political stability before committing.
Consistency and sustainability are key in setting policy, the right regulatory environment and establishing a steady deal flow through project pipelines.
“India’s infrastructure has been a roller coaster ride. While in the past few years we have seen a decline in interest around the infrastructure sector, the new Government is taking a number of measures to revive investment.
“We believe this could lead to a re-rating of Indian infrastructure,” Arvind Mahajan, Head, Government and Infrastructure, KPMG in India, said.
The report looks at infrastructure based on the dynamics of four key markets: mature international markets like Canada, Australia, the UK, economic powerhouses including the US and BRIC countries, smaller established markets such as Chile, Sweden, New Zealand, Korea and emerging markets.
The panel of independent industry experts evaluated over 400 diverse and compelling projects to ultimately select the final 100.