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Corporate | IFC consultant for Vizhinjam terminal

Corporate | IFC consultant for Vizhinjam terminal
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First Published: Fri, Nov 13 2009. 09 10 PM IST
Updated: Fri, Nov 13 2009. 09 10 PM IST
Kochi: The Kerala government has appointed International Finance Corporation (IFC), a member of the World Bank group, as consultant for developing a proposed greenfield multi-crore international container port at Vizhinjam, near the state capital of Thiruvananthapuram. IFC will replace IL&FS.
IFC’s consulting fee will be in two tranches—a fixed cost of about Rs80 lakh, and a so-called success fee to be decided after the bidding process is complete.
Lars Thunnel, IFC executive vice-president and chief executive officer, said it would also help raise funds to achieve financial closure.
Replying to a question about whether IFC would directly invest in the project, he said that would depend on the terms of the government and the strategic partner.
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First Published: Fri, Nov 13 2009. 09 10 PM IST