Brief write up of project in 250 to 300 words...
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Statistics show nearly a third of the country’s landmass is at risk from severe earthquakes. Twelve percent of the country is subject to flooding. Seventy-six percent of the coastline is in a cyclone and tsunami-zone.India said it has allocated $9.5 billion for disaster management for the six years between 2015 to 2020The United Nations disaster risk assessment report for 2015 says natural disasters cost India around $9.8 billion every year alone.Damage to infrastructure: The full extent of the damage from the earthquake that hit Nepal is not yet known. Early economic damages are currently being estimated at over USD 10 billion. IHS Global insight estimates the cost of rebuilding homes, roads, bridges could cost as much as USD 5 billion or more. This is about a quarter of the country’s GDP (USD 19.2 billion).
Impact to economy: The earthquake is reported to have damaged 14 hydropower projects resulting in loss of 150 MW of electricity from the country’s power grid. Currently Nepal Electricity Authority (NEA) is distributing 564 MW including 210 MW imported from India. This would impact the mean energy supply for the country. As a result manufacturing industries may be severely affected with rising fuel costs to meet energy requirements.
Major highways and bridges connecting districts have not been affected. However road networks in remote districts have been severely disrupted by landslides making transport of relief materials difficult. The situation is likely to worsen with the upcoming monsoons.
Infra bottlenecks – Impacting relief: The Air Traffic Control did an amazing job of handling the numerous flights. The Government’s plan of centralized warehouse for distribution of relief materials proved to be an utter failure. The centralized system of relief distribution through state-owned warehouse would have worked if the warehouses were properly functioning prior to the earthquake.
Rebuilding: Rebuilding infrastructure will be the next big challenge. Efforts of government institutions, I/NGOs and other stakeholders must be coordinated to facilitate the rebuilding process and avoid over lapping of efforts between the various stakeholders. Government procurement acts and policies will have to be reviewed in light of the earthquake to avoid delays caused due to political interferences and bureaucracy. A sustained political will is required to make sound infrastructure investments.
Focus on PPP projects: The destruction of infrastructure provides an opportunity to plan afresh better infrastructure. Public –Private – People partnership projects must be initiated post disaster for reconstruction aimed at combining and maximizing the advantages and benefits of including people through sustainable partnership to achieve better planned, executed and sustainable reconstruction.
Quantitative loss: The real estate sector which was on a path to recovery after 5 years of slowdown has been hit hard by the 7.8 magnitude earthquake. The damages and destruction of apartment buildings and houses caused by the earthquake has had a negative impact. The sector could potentially face a slowdown again in the days to come. The devastating earthquake is estimated to have cost the real estate sector at least NPR 7.5 - 8 billion (USD 75 - 80 million). With over NPR 250 billion (USD 2.5 billion) invested in the real estate sector, developers will again have to feel the burn of a downward spiral of the sector.
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