Odisha Cabinet approves State's new Public-Private Partnership Policy

Bhubaneswar (Odisha) [India], August 12 (ANI): Odisha Cabinet headed by Chief Minister Naveen Patnaik approved 'Odisha Public Private Partnership (PPP) Policy 2023' for reinforcing and further accelerating the growth of PPPs in the state and help the State to adapt to changes in the PPP ecosystem.
"The new Public Private Partnership (PPP) Policy aims for an optimum balance between private sector risk and rewards. The fundamental benefit of this policy is to provide value for money to the state, resulting in better and affordable services over the long term." a press statement of the Odisha Government said.
As per the Government, this policy will leverage State and Central Government funds, support private investment, and create a conducive environment to utilize the efficiencies, innovativeness, and flexibility of the private sector to provide better infrastructure and services at an optimal cost putting emphasis on social infrastructure also.
Besides robust institutional and governance frameworks within the State to attract private sector investments, this policy shall create a level playing field for all participants and protect the interests of all stakeholders and an institutional mechanism for speedy clearance of the projects.
According to the policy, PPP projects requiring a minimum investment of Rs 500 crore would be approved by a High-Level Clearance Authority (HLCA). Empowered Committee on Infrastructure (ECI) will have the authority to approve projects of a value ranging from Rs 10 crore to Rs 500 crore.
The Directorate of PPP would provide assistance to the ECI and nodal agencies for PPP projects in the state and will also have the authority to approve projects up to Rs 10 Crore.
A District PPP committee, headed by the District Collector and with representation from key administrative agencies at the district level and prominent Industry Associations, will coordinate and facilitate the implementation of infrastructure projects on the PPP route.
The PPP Policy 2023 includes 21 sectors that may be implemented in PPP with emphasis on waste management, energy efficiency measures, and renewable and alternative/ non-conventional energy sectors.
The policy includes a range of government incentives and assistance under Viability Gap Funding (VGF) and Odisha Infrastructure Development Fund (OIDF) in order to boost the viability of PPP projects. (ANI)