Award of projects to a developer.

(1) The Regional development authority may enter into agreement with a developer for carrying out any project or work in the Special Investment Region: Provided that, in case of infrastructure projects, the process of selection of a developer shall be as stipulated in the prevailing Public Private Partnership Policy for Infrastructure Projects for the State of Karnataka, in a transparent manner. (2) Without prejudice to the generality of the foregoing provisions, the Regional development authority may enter into a joint venture agreement with another Government company or another developer or entity to form a special purpose entity for developing or managing a particular project in the Special Investment Region, with prior approval of the Apex Authority: Provided that, while entrusting the project to a developer or a private entity, it shall be done in a transparent manner.