DEVELOPMENT THROUGH SPECIAL PURPOSE VEHICLES

(1) If at any time after the pre-feasibility stage, the Board is of the prima-facie opinion that a proposed project is unlikely to succeed through private participation, the Board may refer that project to the State Government to get the same executed through special purpose vehicle or vehicles by leveraging the funds available with the Board or other State agencies. (2) In case of private participation in the special purpose vehicles, which are granted Concessions to implement the projects referred to in sub-section (1), those special purpose vehicles shall be governed by the relevant provisions of this Act and rules framed thereunder.