Projects & Assignments

IFL core team has worked on various projects pertaining to advisory, infrastructure investment, capacity building and management consulting. Scope of work on these projects has ranged from structuring & implementation of projects to devising policies & frameworks to building PPP programs to carrying out capacity building exercises.

Total consolidated value of projects worked on by IFL team members’ amounts to over US$ 10 billion. These projects relate to various sectors ranging from Renewable Energy to Transport & Logistics to Municipal services to Mass Urban Transport.

A list of some of the projects & assignments worked on is given below.

PROJECT ADVISORY
A) Transport & Logistics Sector
  • Lahore-Sialkot Motorway (US$ 640m): NHA is looking to develop this Greenfield 95KM six lane high speed motorway on PPP modality on BOT mode with private sector participation. Work comprised of activities pertaining to transaction structuring and transaction implementation on this Sell-side Advisory.
  • Sukkur-Hyderabad Motorway (US$ 1.76b): NHA is looking to develop this 296KM six lane high speed motorway on PPP modality on BOT mode with private sector participation. Work comprised of activities pertaining to transaction structuring and transaction implementation on this Sell-side Advisory.
  • Multan-Muzaffargarh-DG Khan Motorway (US$ 100m): NHA is looking to develop this 64KM six lane motorway on PPP modality on BOT mode with private sector participation. Work comprised of activities pertaining to transaction structuring and transaction implementation on this Sell-side Advisory.
  • Oil Freight Project (US$ 50m): Pakistan Railways has decided to setup running of freight trains of various commodities on PPP modality with this project being developed on BOO basis. Work comprised of providing Buy-side Advisory services.
  • Slaughterhouse/(Abattoir) Project (US$ 20m): CDGF envisages developing a modern abattoir facility on PPP modality to attract private sector investment in this segment and to cater to the growing requirements of Faisalabad city. Work comprised of activities pertaining to inception and transaction structuring phase of this Sell-side Advisory.
  • Karachi-Lahore Motorway (US$ 6.5b): NHA is looking to build this 1200KM 6-lane high speed access controlled motorway on PPP modality. It will originate from Karachi Northern Bypass, through Sindh and Punjab, and terminate at Lahore Motorway (M-2). Work comprised of activities pertaining to transaction structuring on this Sell-side Advisory.
  • Lahore-Islamabad Motorway-M2 (US$ 460m): NHA is looking to develop this Brownfield 357KM six lane access controlled motorway on PPP modality on BOT basis under its “Modernization and Overhaul of M-2 on BOT basis Project”. Work comprised of activities pertaining to transaction structuring and transaction implementation on this Sell-side Advisory.
  • Cool Chain System (US$ 145m): Development of cool chain system made of pack houses, cold storages, reefer yards and testing labs across the National Trade Corridor on PPP modality by PHDEC to harness horticulture sector potential. A Greenfield project with private party given a concession to build and operate the project. Work comprised of activities pertaining to inception and transaction structuring on this Sell-side Advisory.
  • Grain & Fertilizer Terminal (US$ 135m): Port Qasim Authority is setting up this project on PPP mode to meet national requirements. A Greenfield project being done on BOT basis with a 30 year concession period. Work comprised of providing Buy-side Advisory services.
  • Coal-Clinker-Cement Terminal (US$ 175m): Port Qasim Authority is developing this project on PPP mode. This project being done on BOT basis with 30 year concession period and with implementation agreement signed between PQA and the private party. Work comprised of providing Buy-side Advisory services.
B) Energy Sector
  • 20MW Solar Farm (US$ 40m): Sri Lanka is encouraging private sector investment in its renewable energy sector. Project sponsors are looking to set-up a Greenfield solar farm project on BOO mode to take advantage of the country’s growing solar farm market. Work comprised of activities pertaining to inception, transaction structuring and transaction implementation phases of this Buy-side Advisory.
  • 50MW Wind Farm (US$ 150m): GOP is encouraging private sector investment in its renewable energy sector. This project is on BOO mode with the private party given a concession for a pre-determined period. SIG comprised of equity players is looking to invest in this project to take advantage of guaranteed high equity returns. Work comprised of providing Buy-side Advisory services.
  • 10MW Solar Farm (US$ 30m): GOP is encouraging private sector investment in its renewable energy sector. This project is on BOO mode with the private party given a concession for a pre-determined period. SIG comprised of equity players is looking to invest in this project to take advantage of guaranteed high equity returns. Work comprised of providing Buy-side Advisory services.
  • Basha-Diamer Dam (US$ 12b – 4500MW): GOP is exploring project structuring & financing options for development of MWRs. Devising of project structuring and financing mechanisms for development of Basha Dam and similar multi-purpose water reservoirs on PPP mode and with private sector participation. Work ranged from; devising of project structures to building initial bankable security packages to project risk assessment to devising a way forward for GOP on Basha Dam.
  • Neelum Jhelum Project (US$ 1.65b – 969MW): GOP is exploring project structuring & financing options including use of private sector investment for the Neelum Project SPV for the development of this large run-of-the-river project. Work ranged from; identification of project & financing structures to devising of financing options/strategies to formulating bankable security packages to devising a way forward for the SPV.
  • 10.5MW Power Plant (US$ 20m): A gas fired power generation IPP being done on BOT to take advantage of the private sector participation taking place in power generation with over 9000MW of IPPs already operational. Work comprised of providing Buy-side Advisory services.
C) Mass Urban Public Transport Sector
  • Karachi BRT Red Line (US$ 200m): Karachi City District Government is looking to develop this BRT project on PPP modality with the objective to provide an effective and efficient transportation system. A Greenfield project with the private party to be given a pre-determined time period to build and operate the project. Work comprised of development of a robust business plan under PPP modality and corresponding financial models evaluating various project structures.
  • Bus Rapid Transit Project – Peshawar (US$ 100m): KPK Province is looking to develop a BRT system on PPP modality in Peshawar with the objective to provide an effective and efficient transportation system. A Greenfield project with the private party to be given a pre-determined time period to build and operate the project. Work comprised of activities pertaining to inception and transaction structuring on this Sell-side Advisory.
  • Bus Rapid Transit Project – Islamabad (US$ 80m): Islamabad, the capital city of Pakistan is looking to develop a BRT system on PPP modality with the objective to provide an effective and efficient transportation system. A Greenfield project with the private party to be given a pre-determined time period to build and operate the project. Work comprised of activities pertaining to inception and transaction structuring on this Sell-side Advisory.
  • Lahore Southern Bypass (US$ 60m): CDGL is looking to complete the bypass by constructing a 7KM road link to reduce traffic congestion and facilitate traffic flow. CDGL wants to develop this project on PPP modality with the private party given a pre-determined time period to build and operate the project. Work comprised of activities pertaining to inception and transaction structuring on this Sell-side Advisory.
  • Karachi Circular Railway (US$ 1.5b): Assessed KCR’s financial viability to enable the rail committee in finalizing its recommendation for CDWP/ECNEC for taking the KCR project forward. Activities ranged from; review of global rail experiences to devising project structures to project risk assessment to devising PPP models.
  • Environment Friendly Public Transport (CNG Bus Project – US$ 300m): CDG Karachi has initiated CNG bus project comprising of 4000 buses on PPP modality. A Greenfield project being done on BOO. Work comprised of activities pertaining to transaction structuring and transaction implementation on this Sell-side Advisory.
D) Office/Industrial Sector
  • PSEB Information Technology Park (US$ 145m): Development of an IT park under PPP modality by Pakistan Software Export Board to facilitate IT growth. A Greenfield project being implemented on BOT basis with a 30 year concession period.Work comprised of activities pertaining to transaction structuring and transaction implementation on this Sell-side Advisory.
  • Arfa Karim IT City Project (US$ 140m): Government of Sindh wants to set-up a knowledge city and future hub of IT development & export in the vicinity of Karachi. GOS is therefore looking to develop a technology park. This is a Greenfield project being done on PPP mode.Work comprised of; a business plan and a complete financial feasibility on basis of international experience coupled with the development of PPP options and revenue models supported by financial models.
E) Social & Municipal Services
  • Medical College & Shopping Mall (US$ 40m): Pakistan Post is looking to attract private sector investment to better utilize its asset base. This project is envisaged to be developed on BOT basis with the private party given a concession period of 33 years.Work comprised of providing Buy-side Advisory services.
  • Faisalabad Solid Waste Management Project (US$ 40m): CDG Faisalabad intends to develop an integrated solid waste management project under PPP modality. A Greenfield project where private party would be given a concession to build and operate the project.Work comprised of activities pertaining to inception and transaction structuring on this Sell-side Advisory.
  • Cairns Hospital Rawalpindi (US$ 50m): Pakistan Railways has decided to rehabilitate 4 hospitals in various cities of Pakistan on PPP modality. As a first step 300 bed Cairns hospital in Lahore has been selected for rehabilitation & investment with private sector investment.Work comprised of activities pertaining to; project structuring, included development of a complete rehabilitation plan on the basis of a PPP/ROT structure, development of bidding documents, investor conferences, etc.
F) Financial Sector
  • Infrastructure Private Equity Fund (US$ 500m): Private equity funds are being seen as one of the emerging financing mechanism for projects. Fund sponsors are looking to establish a PE Fund for infrastructure projects for the Caribbean Market to take advantage of the financing gap and attractive equity returns. Work comprised of activities pertaining to fund structuring, formation and implementation on this Buy-side Advisory.
  • Sale of a Running Restaurant: Sponsors of a renowned bakery-café restaurant among Lahore’s upper class are looking to sell its operations along with all its franchise rights in Pakistan and globally via private placement.Work comprised of providing sell-side advisory services by assist the client through the entire sale process from company valuation to pitch book building to negotiations with buyers.
  • Sale of a Technology Firm: Sponsors of a renowned web based online HR portal are looking to sell 100% of their company along with all local and global operational and franchising rights OR raise equity capital to expand their existing operations.Work comprised of providing sell-side advisory services by assisting the client through the entire sale and finance raising process from company valuation to pitch book building to negotiations with financiers.
G) Information Technology
  • Development-Expansion of a Technology Start-up: Sponsors of a California based online delivery start-up want to cater to the growing online grocery delivery market of North America by bringing their unique technology platform and delivery model to the US and Canadian markets.Work here comprised of providing advisory services by assisting the client through the entire project development and finance raising process from business modeling to company valuation to pitch book building to finance raising.
  • National Infrastructure Information System (NIIS) Project: Implementing institutions are adopting innovative technology applications like NIIS to overcome the many complexities associated with development & implementation of infrastructure projects on PPP mode and to enable them to efficiently manage the whole PPP Work ranged from; review & analysis of NIIS platform to testing NIIS’s functionalities, scope, robustness, processes, workflows, etc. to implementation of NIIS on Islamabad BRT project.project development process. ADB’s technical assistance project is looking to implement this NIIS technology platform on Islamabad BRT project advisory.
INFRASTRUCTURE INVESTMENT
  • 50MW Wind Farm (US$ 150m): GOP is encouraging private sector investment in its renewable energy sector. This project is on BOO mode with the private party given a concession for a pre-determined period. SIG comprised of equity players is looking to invest in this project to take advantage of stable cash flows and guaranteed high equity returns.Work comprised of providing Buy-side Advisory and Investment services.
  • 10MW Solar Farm (US$ 30m): GOP is encouraging private sector investment in its renewable energy sector. This project is on BOO mode with the private party given a concession for a pre-determined period. SIG comprised of equity players is looking to invest in this project to take advantage of stable cash flows and guaranteed high equity returns.Work comprised of providing Buy-side Advisory and Investment services.
CAPACITY BUILDING
  • Local Infrastructure Feasibility Expert (LIFE) Program: Given the complexities attached to building infrastructure with private sector participation, public institutions today require new skills to develop VFM projects. Multilaterals are devising & executing capacity building programs to enhance public sector knowhow in developing infrastructure projects. ADB’s LIFE Program envisages building capacity of the public sector of MIMAROPA region of Philippines in infrastructure development.Work here comprised of development of a comprehensive training document on infrastructure project development and holding of training workshops/seminars for the participants.
MANAGEMENT CONSULTING SERVICES
A) Policy and Frameworks Building
  • Public Private Partnerships Law: To keep private sector investment flowing into infrastructure, GOP has taken a proactive approach and has decided to bring a PPP Law at the Federal Level, with the objective to provide a regulatory and an enabling environment for private participation in provision of public infrastructure and related services.Work here comprised of formulation PPP Law and its presentation to decision makers.
  • PPP Framework for KPK Tourism: Three fourth of Pakistan’s tourism attractions are in the KPK province, and despite this the tourism potential has never been fully realized. TCKP with assistance of USAID has decided to develop a PPP framework for the sector to facilitate private sector investment in this sector.Work comprised of formulating a PPP framework for KPK’s tourism sector taking into account all technical, institutional, legal and financial aspects.
  • Jacobabad Water Sanitation and Solid Waste Management Project: Jacobabad City (Sindh) was selected under USAID program to develop a WSS utility model structure/(including PPP models) that can ensure quality service delivery to customers, and provide efficient & effective institutional and management framework for the WSS system of Jacobabad.Work comprised of formulating a pubic private partnership and WSS utility model structure for the water and sanitation sector of Jacobabad.
  • Viability Gap Fund (VGF) Framework: Pakistan’s PPP program is comprised of various components with each having its own role and significance. International advisory firms with World Bank assistance had been engaged to assist IPDF in development of a VGF framework. VGF is envisaged to be a subsidy fund to support PPP projects that are economically viable but not financially viable.Work comprised of development of a comprehensive VGF framework along with VGF guidelines, operational design, etc. in collaboration with WB consultants.
  • Pakistan PPP Policy: Keeping in view its tightening fiscal space and growing infrastructure needs, GOP has embarked upon a progressive and structured PPP program to facilitate private sector participation in infrastructure. Pakistan’s program is comprised of various components with PPP policy being at the top.Work here comprised of formulation and approval of the PPP policy by the government.
  • Risk Management Framework (RMF) – Guarantee Fund: Pakistan’s PPP program is comprised of various components with each having its own significance and role. International advisory firms with World Bank assistance had been engaged to assist IPDF in development of a risk management framework for infrastructure projects. RMF is envisaged to be a capitalized guarantee fund to support infrastructure PPP projects requiring guarantees.Work comprised of development of a comprehensive RMF framework along with RMF guidelines in collaboration with WB consultants.
  • Project Development Fund (PDF): Pakistan’s PPP program is comprised of various parts PDF being one of them. International advisory firms with World Bank assistance had been engaged to assist IPDF in development of a PDF framework. PDF is envisaged to provide funds to institutions to cover the cost of preparing and launching a PPP transaction.Work comprised of development of PDF framework, business plan, operational design, guidelines, etc.
  • Infrastructure Project Financing Facility (IPFF): IPFF is a major component of Pakistan’s PPP program. It is envisaged to provide residual long term financing for infrastructure projects and act as a catalyst for long-term financing of local & foreign private capital. International advisory firms with World Bank assistance had been engaged to assist IPDF in setting-up of IPFF.Work comprised of development and approval of IPFF concept, business plan, framework, and implementation strategy.
  • Project Inception Guidelines: IPDF is a PPP unit at the federal level facilitating public sector institutions in developing PPP projects. To facilitate IPDF operations and Pakistan’s PPP program, various guidelines have been devised. Inception guidelines have been devised to assist implementing institutions and IPDF to identify and decide which project to develop under PPP mode.Work here comprised of formulation and approval of inception guidelines by IPDF board.
  • Project Feasibility & Preparation Guidelines IPDF is a PPP unit at the federal level facilitating public sector institutions in developing PPP projects. To ease IPDF operations and Pakistan’s PPP program, various guidelines have been devised. Feasibility guidelines have been developed to facilitate PPP project development and enable IPDF, transaction advisors and implementing institutions in carrying out project preparation work.Work here comprised of formulation and approval of project feasibility & preparation guidelines by IPDF board.
  • Project Procurement Guidelines: IPDF is a PPP unit at the federal level. To facilitate IPDF and Pakistan’s PPP program, various guidelines have been devised with reference to developing PPP projects. Procurement guidelines enable IPDF, implementing institutions and transaction advisors to take PPP projects in the market for procurement of private party.Work here comprised of formulation and approval of procurement guidelines by IPDF board.
  • Standardized Contractual Provisions: To facilitate PPPs, standardized provisions on annuity/(service availability) and user charge modes have been devised to assist IPDF and implementing institutions in developing concession contracts in a manner that cover all legal, commercial and technical aspects of a PPP project.Work here comprised of formulation and approval of contractual provisions.