Feedback Ventures joins hands with Brisa
Feedback Ventures Pvt Ltd (FVPL) has announced its joint venture with Brisa, Auto-estradas de Portugal, one of the largest tolled motorway operators in the world and the largest transport infrastructure company in Portugal. The strategic tie-up will provide Operations, Maintenance and Tolling (OM&T) services for Roads and Highways in India. The joint venture was announced in the presence of Vinayak Chatterjee, Chairman, Feedback Ventures, Vasco De Mello, Chairman of the Board, Brisa and Parvesh Minocha, Vice Chairman, Feedback Brisa Highways OMT Private Ltd.
The size of the highway OM&T services market is expected to be approximately ` 5000 crore by 2016. The objective of the joint venture is to participate in this market by providing best practices and technology that will create a unique brand identity for “Feedback-Brisa Managed Highways”. The endeavor is to create an enhanced experience for all stakeholders including users, developers, contractors, financiers and government departments by raising OM&T quality standards, at par with the best in the world.
"Feedback-Brisa Managed Highways" will bring capabilities to understand the dynamic requirements and create a unique user experience on Indian roads at optimal costs. Some of the benefits of enhanced OM&T service include reduced accidents and lower waiting time at toll plazas – through superior toll/traffic management systems, electronic tolling, better signages etc. Feedback-Brisa’s clients would include National Highways Authority of India (NHAI), Ministry of Road Transport and Highways (MoRTH), State road departments and private sector companies owning concessions for roads on PPP basis.
On their entry to India, Vasco de Mello, Chairman of the Board, Brisa, Auto-estradas de Portugal said “We are very excited to enter one of the world’s largest, fastest growing and competitive markets. Brisa has over 40 years’ experience of operating and managing roads with continuous investments in improving service levels and cost efficiencies. We look forward to leveraging this experience for the Indian market. Feedback Ventures has provided us an excellent opportunity to enter the OM&T business in India and we are sure both companies will benefit greatly from this partnership. Feedback’s client base boasts of the top most road developers, highway development authorities, investors and lenders and provides the right platform for Brisa’s entry into the country.”
Vinayak Chatterjee, Chairman, FVPL, said “The need for OM&T services for Roads and Highways in India is quite evident. While much of India’s focus has been on asset creation in the last decade, this decade requires significant intervention on asset maintenance. Brisa is well known for its innovation and technologically advanced systems. It is one of the largest tolled motorway operators in the world and the largest transport infrastructure company in Portugal. We are really looking forward to this partnership and feel that with our combined knowledge banks, we can bring about a significant change in the customer experience in the roads and highways sector through a safe, convenient and reliable mode of travel.”