MOU between MMBL Group and Feedback Ventures to attract infrastructure investment from India -Timely venture to attract Indian infrastructure development
Posted on September 7th, 2010

Press releases- Gamini Sarath Godakanda Manager Media MMBL

B. Ramaswamy, President (Business Development, Southern Region) of Feedback Ventures in India and Bernard Goonetilleke, Chairman of Pathfinder Advisory Services, a member of Mercantile Merchant Bank, signed a Memorandum of understating (MOU) providing for Indian investment in infrastructure development in Sri Lanka recently.

Pathfinder Advisory Services and Feedback Ventures of India, a joint venture involving three large infrastructure development companies in India, viz. Infrastructure Development Finance Company (IDFC) and Housing Development Finance Company (HDFC)), and Larsen & Toubro Limited entered in to a strategic alliance last week. This tie up will provide momentum to the infrastructure development efforts of the government, a well-timed boost for infrastructure development in the post conflict era.

Feedback Ventures is IndiaƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s largest independent group of multidisciplinary infrastructure professionals comprising strategic advisers, financial specialists, planners, architects, designers, engineers, social and environmental scientists and project managers considered the best in the industry. They are supported by shareholders, who are the most distinguished companies in the infrastructure arena, bringing with them a sharper focus and a shared commitment.

The Memorandum of Understating signed with Feedback Ventures providing for Indian investment in infrastructure development will pave the way for Indian private sector participation in infrastructure development projects in the country.ƒÆ’-¡ƒ”š‚  This would include private/ public sector partnerships.ƒÆ’-¡ƒ”š‚  This alliance is a manifestation of the increasing interest on the part of Indian companies to pursue investment opportunities in Sri Lanka in the Post-Conflict era.

This collaboration will give priority to developing projects and offer consultancy in the infrastructure sector in Sri Lanka in strategic & financial advisory, planning & engineering design, project management and operations & maintenance services in (1) Transportation & Logistics sector inclusive of road, rail, ports, airports, logistics and irrigation & water resources, (2) Energy Sector inclusive of generation, transmission & distribution, regulatory, coal & mines and oil & gas,ƒÆ’-¡ƒ”š‚  (3) Realty & Townships covering ƒÆ’-¡ƒ”š‚ water supply & sanitation, hotels, hospitals, malls, commercial complexes, IT parks, industrial parks, SEZ, (4) PPP projects in the above sectors and, (5) Other Advisory services including all other aspects relevant to the companyƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s business range from time to time.

Pathfinder Advisory Services is the advisory arm of Mercantile Merchant Bank Group (MMBL), a Sri-Lanka- US joint venture, is a leading boutique investment bank and private equity firm. The MMBL investment portfolio includes investments inƒÆ’-¡ƒ”š‚ financial services (banking, insurance, international money transfer), business logistics, information technology, petroleum testing, property development, and leisure. The MMBL group has strategic alliances with several Fortune 500 corporations and Sri Lankan blue-chip companies, and high net-worth investors from Sri Lanka and abroad.

ƒÆ’-¡ƒ”š‚ Triple I, a joint venture involving Feedback Ventures and IDFC, is an innovative institution, which funds project development under PPP models and recover cost and success fee, post successful signing of concession agreements between the government and the private sector partner, selected through a transparent process, thereby relieving the government of the burden of expenditure on project development. Following discussions with officials in Sri Lanka, Triple I plans to select several projects, which are viable under their model and allocate funds to develop them, thereby facilitating interested parties from India and elsewhere to bring in much needed investment for development of projects.ƒÆ’-¡ƒ”š‚  The MOU provides an ideal background for Indian investment to focus on Sri Lanka in the Post-Conflict era through the Triple I.


B. Ramaswamy, President (Business Development, Southern Region) of Feedback Ventures and Bernard Goonetilleke, Chairman of Pathfinder Advisory Services exchange the MOU together with FeedbackƒÆ’‚¢ƒ¢-¡‚¬ƒ¢-¾‚¢s joint venture partner India Infrastructure Initiative (Triple I), represented by Suresh Kumar and Rohit Kumar CEO and Senior Manager of Triple I, respectively.

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