Valecha Infrastructure sells three road assets to US-based firm

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Valecha Infrastructure sells three road assets to US-based firm

Mumbai-based Valecha Infrastructure Ltd will sell its three road PPP projects to New Generation Infrastructure Inc., a subsidiary of New Generation Holdings Inc., a US-based infrastructure and energy firm.

Valecha will be selling the three projects located in Madhya Pradesh and Gujarat and executed under the 'build, operate and transfer' (BOT) model, for about Rs. 3,090 million (around $50 million), the company said in an stock exchange filing on Monday.

Valecha Infrastructure, a wholly owned subsidiary of Valecha Engineering Ltd, will sell its shareholding in Valecha LM Toll Pvt Ltd (Madhya Pradesh) and Valecha Badwani Sendhwa Toll Ways Ltd (Gujarat) to New Generation Infrastructure.

Valecha Engineering has also received approval from its board to divest its shareholding in Valecha Infrastructure to the US firm.

In June quarter, Valecha Engineering reported negative figures and this will allow them to reduce debt.

List of country news

Country news

  • October 02, 2014

    IVRCL Infrastructure to sell infrastructure assets

    Local sources recently reported that Indian infrastructure developer IVRCL has announced plans to sell Rs40 billion (US$646.6 million) worth of assets to reduce its debt in two years. The assets on sale are the Chennai desalination plant and several road projects around the country. Read more
  • October 02, 2014

    IFC considers investing in I Squared's Indian road vehicle

    The International Finance Corporation (IFC i)s considering an equity investment in a holding company, Road Holdco, developed by I Squared Asia Advisors Pte. Ltd. (ISQ), which will primarily acquire operating road assets in India. Read more
  • October 10, 2014

    IDFC closes its second infrastructure fund at $900 million

    IDFC Alternatives Limited, one of India's largest multi-asset class fund managers announces the final closing for India Infrastructure Fund II (IIF II) at its hard cap of INR 5,500 crore (approx. USD 900 million). Read more
  • October 10, 2014

    Goa launches tender for MOPA airport PPP

    The Government of Goa, India, through the directorate of civil aviation, has issued a request for qualification (RFQ) for the Mopa international airport PPP project. Read more
  • October 13, 2014

    India to support China's Asian Infrastructure Investment Bank

    India could support the Asian Infrastructure Investment Bank proposed by China as part of the new government's new policy to deepen regional cooperation. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.