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CRISIL INFRASTRUCTURE ADVISORY
ABOUTCRISIL INFRASTRUCTURE ADVISORY
CRISIL Infrastructure Advisory provides advisory
services and solutions to government, multilateral agencies and leading organisations in 20 emerging economies across the world. CRISIL Infrastructure Advisory is a division of CRISIL Risk & Infrastructure Solution Limited (CRIS), a wholly owned subsidiary of CRISIL Ltd. CRISIL is a global analytical company providing rating, research, and risk and policy advisory services.
We provide advisory services in the areas of strategy, valuation opinions, financial markets, public-private partnership
projects and regulatory policy by leveraging our core values of independence, analytical rigour and deep domain
knowledge. On the physical infrastructure side, we have deep knowledge and strong expertise in power, urban
infrastructure and transport & logistics. Our expertise also extends to social infrastructure, public-private partnerships
and a variety of advisory services in the financial sector.
Our service offerings in the infrastructure space span the entire spectrum of infrastructure development. We help
shape public policies; carry out regulatory reforms; create bankable infrastructure projects; manage the bid process;
and provide bid advisory services. We have played a key role in the evolution of the power, ports, airports and urban
infrastructure sectors in India and have also helped clients in the larger markets of Africa and South-East Asia.
SCOPE OF OUR OFFERINGS
Education
Our value -Independence of opinion Deep domain knowledge Strong analytical skills Healthcare
Urban
Natural Resources
Power
Transport
INDIA
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|o ns Ft ia nilu anaV ci| aly Sg ee rt va irt ceS s
PP tP ce jP oo rli P cy P P | P |R e rg yl tou a
AFRICA | SOUTH-EAST ASIA | MIDDLE-EAST
OUR CLIENTS
Our private sector clients include domestic and global private companies
private equity and venture capital firms. We assist them with entry strategies and business plans; strategic visioning; valuations; bid advisory assistance and investment-related services.
Our public sector clients comprise governments, regulators and
multilateral agencies, both in domestic and international markets. We
assist them in areas such as policy advisory, design of regulation,
implementation of reforms, conception of bankable PPP projects and
capacity building.
Argentina BoliviaPeru
Greece
Cape VerdeSaudi Arabia
BahrainBangladeshBhutanIndiaNepalSri Lanka
KenyaMalawiMauritiusSouth AfricaTanzaniaUganda
IndonesiaSingapore Vietnam
North America
CaribbeanEl Salvador
South America
Europe Russia
Asia
Africa
Middle East
Australia
Cambodia LaosMalaysiaThailand
AngolaBotswanaEgyptLesothoMozambiqueNigeriaRwandaTunisiaZambia
WHY OUR CLIENTS CHOOSE TO WORK WITH US
q Track record of competence, independence and objectivity: Our steadfast adherence
to the CRISIL attributes of analytically researched, independent opinions makes us the
advisor of choice for governments at the central, state and local body levels in India, who
trust our opinions as being truly in the public interest.
q Deep appreciation of public policy and regulatory dynamics: We have unique insights
into future evolutionary possibilities in our domains of focus, such as power, urban
development and transport. CRISIL's long-standing presence in India and our participation
in policy and regulatory reform provide us with unique insights into these sectors and we
deploy this ability to help our clients in strategic business positioning and framing future
business policy.
q Leveraging experience across domains: We place emphasis on close interactions
between teams working across different domains. This facilitates exchange of learning
across sectors and functions. For instance, our urban development team which focuses on
the water sector derives insights from the experience of the power distribution team.
q Robust research base: Any advice is only as good as the information and expertise on
which it is based. Our domain experts benefit from real-time access to reports and insights
from CRISIL Research, the research division of CRISIL. CRISIL Research is the country's
largest independent and integrated research house with strong domain expertise on Indian
economy, industries and capital markets. Its research offerings covers 65 industries.
q Strong understanding of financial markets: In the modern market economy, physical
possibilities are closely intertwined with financial possibilities. The CRISIL parentage has
given us strong understanding of financial markets, which ensures that our solutions fully
reflect the interplay of the physical and the financial aspects.
q Domain experts who operate both in India and abroad: Our domain teams operate in
India and in countries in Africa and South-East Asia. This exposure gives them the
richness and diversity of perspective that India-focused domain teams find difficult to
achieve, which is very important considering the increase in outbound investments.
Our team has a robust appreciation of the policy, regulatory, commercial,
technical, legal and practical realities of the urban sector in India. We apply
this understanding to provide advice on state-wide or city level interventions
on urban reforms, viz. revenue augmentation, enhanced service delivery,
improved financial management and urban planning blueprints. We have
developed particular expertise in creating PPP frameworks for water supply
and sanitation, solid waste management, urban transport and housing & real
estate. In fact, our team has worked on more than half of the water supply PPP
projects that have been developed in India. We continue to be a preferred
partner to the central ministries, state governments, urban local bodies,
multilateral agencies and private sector to evolve the most workable blueprint
for urban development in India.
Some recent engagements:
q Appraisal of reforms in nine Indian states under the USD 110 billion Jawaharlal Nehru National Urban Renewal Mission (JnNURM) programme
q Transaction advisory services for provision of urban amenities in rural areas (PURA), on PPP basis, to bridge the rural-urban divide, the first rural PPP initiative of Ministry of Rural Development, GoI and sponsored by Asian Development Bank
q Preparation of the business plan and entry strategy for urban infrastructure for Jamshedpur Urban Services Company Limited (JUSCO)
q Transaction Advisor to the Government of Mauritius for urban and knowledge industry development project at Highlands (new capital city of Mauritius)
q Project Implementation Cells at the urban local bodies of Pimpri-Chinchwad, Nashik, Aurangabad and Nagpur for implementing JnNURM projects & reforms, and providing support to urban local bodies in building efficiency in operation
q Establishment of service-level benchmarks, covering basic municipal services in partnership with MoUD to develop India's first handbook on benchmarking of services and implementation of the same in select cities in India
q Transaction Advisor for undertaking water supply, sewerage and solid waste management projects on PPP basis in states of Andhra Pradesh, Orissa, Tamil Nadu, Madhya Pradesh, Rajasthan and Maharashtra
URBAN DEVELOPMENT Planning Transport Urban Finance& Reforms
Water Supply & Sanitation
Solid WasteManagement
Some recent engagements:
q
q
q
q Transaction advisory services for design, construction, finance, operation and maintenance of a 25-40 MW Wind Park at Bigara, Mauritius, for the Ministry of Renewable Energy & Public Utilities
q Preparation of a draft transmission agreement and bid process management for transmission projects under independent power transmission company route for Uttar Pradesh Power Transmission Corporation Limited
q Assessment of forecast of merchant power market for GMR Energy Limited
Assistance with PPP in the electricity sector, including the first successful implementation of a distribution franchisee model in the country at Bhiwandi in Maharashtra
Several assignments for the Ministry of New and Renewable Energy (MNRE) such as developing the renewable purchase obligation framework in India and putting in place the system for trading of renewable energy certificates (REC)
Provision of secretariat and training services to the East Asia and Pacific Infrastructure Regulatory Forum for The World Bank
q Assessment of financial viability and tariff for distribution utilities and preparation of the model tariff guidelines in India
Our team has played a key role in the development of the power sector in
India, from helping frame the provisions of the Electricity Act and the
regulatory architecture to advising developers on the ultra mega power
projects and assisting private equity investors in analyzing investment
opportunities in the sector. While we continue to assist the Central Electricity
Regulatory Commission (CERC), the Forum of Regulators (FOR) and State
Electricity Regulatory Commissions (SERCs), we also work with project
developers, equity investors and lenders in the power sector. We have
developed a strong expertise in the area of sustainable energy, with
particular focus on the renewable energy certificate trading regime in India.
Our team is the first port of call for numerous developing countries who seek
to learn from the Indian experience for developing their power sector.
GenerationTransmission Distribution
Conventional RenewableENERGY
Some recent engagements:
q Traffic forecast for the development of a multipurpose port in Kakinada for an infrastructure major
q Preparation of the financial model for road BOT and annuity projects for GKC Projects Limited
q Bid advisory services for the Kigamboni Bridge to be implemented via the PPP route in Dar-e-Salaam, Tanzania
q Advising the Ministry of Civil Aviation, Government of India, on the determination of development fee and user development fee at selected non-metro airports
q Bid advisory services for the Waterfront Development Project based at Mahebourg, for State Property Development Company, Republic of Mauritius
q Consultancy services for the study on transit transport services for the Surface and Marine Transport Regulatory Authority, United Republic of Tanzania
q Assistance in structuring the Kozhikode Monorail project under PPP mode for the Government of Kerala
Our services span virtually all links in the logistics chain - roads, railways,
ports, airports, terminals and warehouses.
Our team has assisted to set up the first private port in India (Mundra Port),
one of the first greenfield private airports in India (Hyderabad International
Airport), and the first expressway in India (Mumbai-Pune Expressway). We
are presently helping our clients with the assessment of existing and
emerging business models in the logistics sector through traffic demand
assessments, feasibility studies, business plan formulation, bid process
management, contract validation and vetting, etc. We have also worked
extensively on the fast developing transportation infrastructure in the African
continent.
This helps us firmly anchor our
opinions on any part of the transportation architecture in the wider context.
LogisticsRoadsAirportsPortsTRANSPORT AND LOGISTICS Railways
Some recent engagements:
q Advisory services for city gas distribution for Cairn India Limited
q Selection of a mine developer and operator for National Thermal Power Corporation
q Preparation of a business plan for Maharashtra Natural Gas Limited
q Drafting of the Vision 2020 document and implementation of the road map for Gujarat Mineral Development Corporation Limited
q Advisory services for the selection of a mine developer and operator for the development of the Chendiapada coal block for UCM Coal Company Limited
q City gas distribution & LPG market study for Riyadh City for Ministry of Petroleum & Mineral Resources, Kingdom of Saudi ArabiaOur team provides services in the areas of oil & gas and mining across the
value chain (i.e., from upstream to downstream) including business plan
formulation and bid advisory services. Our services include carrying out due
diligence for upstream investments, feasibility studies for refinery projects and
pipeline tariff estimation studies, as well as advisory on pricing and
affordability related issues for end consumers. We have worked extensively in
the Indian gas market - advising leading global firms, regulators, financial
institutions, private investors and city gas distribution companies. We have
played a vital role in the development of the mining sector in areas ranging
from regulation, pricing, risk management, contractual issues in coal imports
to captive mining, selection of joint development partners, etc. Our
international experience in developed and developing economies enables us
to bring a global perspective to our services.
PUBLIC PRIVATE PARTNERSHIPMinerals
FuelsCoal Oil & GasNATURAL RESOURCES
Some recent engagements:
q Assistance to a listed company in Indonesia in entering healthcare infrastructure and services sector by preparing a market entry strategy and identifying a JV partner
q Development of strategy/models for management and running of medical colleges along with hospitals on PPP basis for the Government of Uttar Pradesh
q Techno-economic evaluation of hospital projects in Guwahati and Bhubaneswar
q Due diligence of a hospital project in Haryana for a leading private sector bank
q Bid advisory for the development of a hospital on PPP basis for the Gwalior Municipal Corporation
Our offerings in the area of healthcare are in keeping with the growing
importance accorded to healthcare by both the government and private
sector players. Our team is led by experts in healthcare who provide
effective solutions across the value chain. The project development and
bid advisory assignments are analyzed from the medical specialty index
point of view, considering the immediate and larger geographic
requirements of the population and the economics of healthcare.
HEALTHCARE
Some recent engagements:
q Assistance to Tata Power to successfully win the bid for the Ultra Mega Power Plants at Mundhra
q Assistance to EMCO to successfully win a transmission project in Rajasthan
q Commercial due diligence for:
- investment by Norwest Venture Partners in a road portfolio of 9 assets of Sadbhav Engineering
- investment by Standard Chartered Private Equity in the renewable energy portfolio of Greenko Energies
- investment by Morgan Stanley Infrastructure Fund in the power portfolio of Asian Genco
- investment by PE Funds in country's premier road logistics operator
q Strategic advisory for acquisition of Globeleq's Latin American power assets by a consortium of DS Constructions and Israel Corp.
q Strategic advisory for acquisition of a coal mine in Indonesia by Bajaj Hindusthan
q Strategic advisory for sale of 600 MW power generation asset of EMCO Energy to GMR Energy
Our team provides advisory services to companies and investors across the
entire investment lifecycle. Our services include due diligence, business
valuation, bid advisory, market assessment, risk analysis, strategic planning,
market insights, techno-commercial feasibility studies for projects, and
business restructuring. The team consists of seasoned professionals with
cross-sector experience in mergers & acquisitions, private equity investment
and management consulting. Our team uniquely brings together deep
domain knowledge and a strong understanding of the financial sector. We
have advice corporates, private equity investors, hedge funds, financial
institutions for assessing and making investments in power, coal, oil & gas,
road, port, urban transport, water, waste to energy, metals & minerals, auto
components, etc include corporates, private equity funds, hedge funds and
financial institutions.
CORPORATE ADVISORY
In the modern era of stiff competition and burgeoning market demands,
companies strive to access long term and stable growth capital to achieve
organic and inorganic growth and carry out business structuring to optimize
valuations. Both companies and investors need quality inputs on commercial
and financial aspects of businesses and markets in a short span of time so
that they can focus on their core business activities.
Our Corporate Finance - Lead Advisory team focuses on providing advisory
service relating to strategic, financial and investment solutions to private
sector clients. Our team assists companies striving to access long term
capital and stable growth capital to achieve organic and inorganic growth. We
provide a bouquet of services including assistance in corporate finance,
strategic partnership, due diligence, business strategy & valuation.
CORPORATE FINANCE - LEAD ADVISORY
Some recent engagements:
q Analysis of feasibility of the non-banking finance company business for Bharat Heavy Electricals Limited
q Development of a credit enhancement product for India Infrastructure Finance Company Limited
q Advised a leading non-banking finance company on an entry strategy for rural housing finance
q Preparation of a corporate strategy and business plan for the Indonesian Infrastructure Finance Facility
q Operationalisation the Infrastructure Guarantee Fund in Indonesia
q Transformation of Tanzania Investment Bank Limited into a development finance institution
q Creation of a viability gap financing framework for Vietnam
FINANCIAL SERVICES & INFRASTRUCTURE FINANCE ADVISORY
Our team uniquely brings together a strong understanding of financial services and
deep domain knowledge of infrastructure - one of the key consumers of financial
services in the emerging markets. Our clients thus have the confidence to entrust our
team with many path-breaking initiatives in the financial services sector in general and
infrastructure finance in particular. We have worked on challenging assignments for
various institutions, banks, non-banking finance companies, development finance
institutions, state finance corporations, infrastructure development agencies and
urban local bodies in India and abroad. Our team comprises economists, researchers
and management consultants from the banking, financial services and consulting
sectors. We offer a wide array of services to corporates, governments’ special purpose
financial institutions and regulatory bodies, from creating the enabling policy and
regulatory framework and financial architecture to advising on structuring, business
strategy, financial reengineering, benchmarking, risk and portfolio analysis, etc
Some recent engagements:
q Preparation of draft of the Andhra Pradesh Infrastructure Enabling Act for the Andhra Pradesh Government
q Review of the Gujarat Infrastructure Agenda 2020 and preparing the blueprint for Infrastructure in Gujarat (BIG 2020) for the Gujarat Infrastructure Development Board
q Enhancement of the risk management framework for infrastructure projects in India
q Development of tool kit(s) for improving PPP decision-making processes, for DEA, GoI, sponsored by ADB
q Development of PPP training content & curriculum and training of trainers, for DEA, GoI, sponsored by ADB
q Development of PPP policy frameworks in Namibia and Thailand
q Design, implementation & management of a Technical Assistance Facility in PPPs in Botswana, Malawi & Mauritius
q Design, implementation and management of a PPP Technical Assistance Facility for SADC Banking Association
q Institutional and legal review from a PPP perspective in Zambia and Tanzania
Our team has assisted clients in creating an enabling environment and
building capacity for PPPs. We have partnered with several governments
and multilateral and bilateral development institutions to evolve and manage
PPP programmes both abroad and in India, both at the national and state
levels. Our scope of services includes drafting procurement legislation,
policy and guidelines; conducting training programmes and building capacity
for projects.
Policy and Regulation Design and Capacity BuildingPARTNERSHIP
CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. We are
India's leading ratings agency. We are also the foremost provider of high-end research to the world's largest banks
and leading corporations. CRISIL’s majority shareholder is Standard and Poor’s (S&P). Standard & Poor’s, a part of
The McGraw-Hill Companies, is the world’s foremost provider of credit ratings.
About CRISIL Limited
CRIS is a wholly-owned subsidiary of CRISIL Ltd. CRIS offers a wide range of solutions focused on infrastructure
policy, corporate advisory, integrated risk management and associated consulting services, to a variety of clients
including government bodies, multilaterals, banks, and infrastructure companies. CRIS operates through its division
CRISIL Infrastructure Advisory and CRISIL Risk Solutions.
CRIS operates independently of CRISIL Ltd. and does not have access to information obtained by CRISIL's Ratings
Division, which may, in its regular operations, obtain information of a confidential nature.
About CRISIL Risk and Infrastructure Solutions (CRIS) Limited
New DelhiThe Mira, G-1, 1st FloorPlot No. 1 & 2Ishwar Nagar, Mathura RoadNew Delhi - 110 065Phone: 91-11-4250 5100
Hyderabad3rd Floor, Uma ChambersPlot No. 9 &10, Nagarjuna HillsNear Punjagutta Cross RoadHyderabad - 500 082Phone: 91-40-2335 8103
BengaluruW-101Sunrise Chambers22, Ulsoor RoadBengaluru - 560 042Phone: 91-80-2558 0899
Ahmedabad706, Venus AtlantisNear Reliance Petrol PumpPrahladnagarAhmedabad - 380 015Phone: 91-79-4024 4500
CRISIL Risk & Infrastructure Solutions LimitedA subsidiary of CRISIL Limited, a Standard & Poor’s CompanyCRISIL House, Central AvenueHiranandani Business Park, PowaiMumbai - 400 076Phone: 91-22-3342 3000 Fax: 91-22-3342 3810Email: [email protected]
CRISIL Offices
New DelhiThe Mira, G-1, 1st FloorPlot No. 1 & 2Ishwar Nagar, Mathura RoadNew Delhi - 110 065Phone: 91-11-4250 5100
BengaluruW-101Sunrise Chambers22, Ulsoor RoadBengaluru - 560 042Phone: 91-80-2558 0899
Ahmedabad706, Venus AtlantisNear Reliance Petrol PumpPrahladnagarAhmedabad - 380 015Phone: 91-79-4024 4500
