Feedback Ventures to draft biz plan for Nepal bank

Written by Kavitha Venkatraman | Hyderabad, Jul 31 | Updated: Aug 1 2008, 06:28am hrs
Feedback Ventures, a leading integrated infrastructure services company, is in the process of drafting a business plan for the proposed Nepal Infrastructure Bank to be formed in Nepal on the lines of Industrial Development Finance Corporation (IDFC). The company has been hired as consultants for the project by a consortium of funding agencies with participation from International Finance Corporation (IFC), Asian Development Bank (ADB) and a German funding agency.

Speaking to FE, Harsh Shrivastava, senior vice president (marketing) of Feedback said, the funding agencies have together appointed us to prepare a business plan for the project. The agencies will participate in the proposed Nepal Infrastructure Bank (NIB) by providing capital along with the Nepal government.

The NIB will be a commercial entity and will function like the IDFC in India. We are in the process of preparing the first cut business plan which will cover areas such as how much of capital is needed, workforce to be employed, what are the rules that need to be changed in the Nepal governments laws and any other details which need to be looked into to make the project viable. The project is underway and is yet to be approved.

He said, the company has been extending infrastructure services in the neighbouring countries for sometime. In 2007, in fact, the company worked with ministry of highways, Sri Lanka and advised them on how to improve and work better. We had training programmes for them, had discussions on several subjects including public-private partnership and on how to structure and bid for a projects. Now, we are also doing sub-contract work for a British company in Kuwait. In fact, I would say that we are just starting out there. Our target is to get at least 10% of the overall business to come from the overseas market in the next five years, he said.

The company is looking at spreading its wings in the international market. It is in fact looking at setting up an office in Abu Dhabi to target the Gulf market. This should be in place within the next 2-3 months. Setting up an office in Abu Dhabi is an issue because getting Indian engineers to work for an Indian company in a foreign land, that too, in Abu Dhabi is little difficult, he added.