Consortium on Infrastructure Collaboration Platform (ICP)

The first meeting of the Infrastructure Consortium was held on 3rd December 2014 at the Fluor Daniel office in Gurgaon. Some of the key highlights from the meeting include:

Mr. Arun Kumar Jain of Fluor Daniel mentioned that The World Bank has agreed to come and meet us and hear us and our companies what we have to offer them. They are also looking at different funding models. Clean fuels, clean power, water sanitation and water management, elements of a smart city were also mentioned.

Mr. John McCaslin, U.S. Embassy, shared a ‘Concept Note & Background’ and mentioned the detailed study Amcham has done on the profile of its member companies and classification done in various sectors. Two MOU’s have been signed between India Government & US Government.

Mr. Jaijit Bhattachraya from KPMG presented on the elaborate way/process a smart city is being built. He emphasized that both funding and execution is important.

Mr. Venkatesh Valluri of Ingersoll Rand stressed that the main challenge is still financing and we need something like Ex-Im Bank, OPIC or World Bank to step in. He commented that a starting point is needed urgently. The execution strategy must be three-fold: design, Indian partnerships and financing. This is the time to leverage Indian company’s competencies and capabilities in this project. A creative model is needed where everybody s interest are aligned

Ms. Carolyn Keating of Overseas Private Investment Corporation (OPIC) travelled from Washington to be part of this meeting. She gave a brief introduction of what OPIC does and how they lend to private sector companies before she answered specific questions. A vision document is being prepared for rolling out Vishakhapatnam as a Smart City and Amcham will be submitting this to Mr. N. Chandrababu Naidu, CM, Andhra Pradesh by the end of the year.