Essel Infrastructures Ltd is in talks with various companies and pension funds for the divestment of its roads portfolio. 

The company plans to sell six road projects in India for a combined value of INR115 billion (US$1.62 billion). Essel Infra has 14 road projects in its portfolio, of which six are national highways and the rest state highways. 

Entities reportedly interested in acquiring the portfolio include Cube Highways and Infrastructure, backed by infrastructure fund I Squared Capital; Adani Enterprises; and three Canadian pension funds—Caisse de dépôt et placement du Québec (CDPQ), Canada Pension Plan Investment Board (CPPIB) and Roadis. 

Essel intends to use the funds generated from the sale to set up a plant to manufacture lithium-ion batteries that will be used in electric vehicles.

The company aims to complete the sale by June 2019.