The role of an Independent Engineer (IE) or a Lenders’ Independent Engineer (LIE) in respect of an infrastructure development is primarily to provide assurance that the development, as planned and designed is suited to the envisaged operational functions, and can be delivered to accepted national and/ or international quality standards within the allocated time and cost budgets. An IE to the owner of an infrastructure facility is responsible for verifying that statutory obligations are met and that the installations will last the design life. An LIE may additionally have to assure the lenders that the installation can operate in a manner that can facilitate recovery of the loan.
- • Carry out an independent verification of planning, design, and operating capacity
- • Ensuring the disbursed funds being used to create the facilities described in the Business Plan
- • Confirming that the covenants and time frames are being met
- • Assuring the commitment of the borrower operating the managing contracts
- • Aligning the technical performance of the facility in line with the design
- • Justifying if the commissioning trials are proving this
- • Running quality checks on work with the lender recovering their money
- • Assessing any claims or other risks to capital cost occurring
- • Identifying the scale of claims and how likely is it they will need to be paid
- • Facilitating, questioning, and questioning very hard until we are convinced and is found to be true (demonstrating that it is true is very important)
- • Reminding ourselves that the reports we generate are only as good as the input data that we seek, the understanding that we derive and above all how we report these findings.
Our Role Is To Ensure That
- • The Owner/ Lender understands the technical decisions being taken
- • The security of the loan moneys and interest is maintained
- • The contractor does (technically) what he says he will
- • Risks are identified and valued correctly
- • To Interpret ongoing work to assist the Owner/ Lender to
- • Avoid blind allies and delays
- • Understand what is important and what is not
- • Not to get in the way of the developer/contractor, because
- • The lenders’ primary interest is for the developer to repay the loan with interest
- • The lender is a service provider to the developer
- • Avoid conflict of interest
• JSW Infrastructure Limited – J0031 – JSW AXIS – TDD and LIE for CT at NMPT.
The Eka Infra team, having spent decades advising banks, investors, developers and financial institutions on the adequacy of an infrastructure development plan in areas from supply/ demand, functional requirement, development scale/phasing, technical competence, design adequacy, quality, cost, timelines and operational constraints is well positioned to serve the needs of those financing India’s evolution into an economic giant that serves its people effectively.