Project Structuring

A usual practice in IWL in the development of projects is to structure projects on the basis of forming a Special Purpose Vehicle (SPV). This provides a highly focused and dedicated approach to the implementation of the project. In the case of BOOT projects, there are examples of New Tirupur Area Development Corporation (NTADCL) and IL&FS Paradip Refinery Water limited (IPRWL). Where third parties are involved, IL&FS Water associates with them on a Project Development Partnership basis, through the structure of dedicated SPVs. For instance in Tirupur, for the Textile effluent treatment project, three SPVs were formed by the industry covering nine Common Effluent Treatment Plants (CETPs). Similar is the case in Ambur where three CETPs were brought together under the umbrella of one SPV – AEDOL (Ambur Economic Development Organization Ltd).