Essel Infraprojects in talks to divest road assets
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.
Country updates
-
-
January 14, 2019
GMR cancels Trivandrum airport inspection amidst protest
Four officials of the GMR Group were unable to carry out a planned inspection of Thiruvananthapuram International Airport in India due to ongoing protests. The inspection was scheduled as part of the...
Read more -
January 14, 2019
Private partner to develop integrated solid waste management and waste to energy facility in Kerala
Kerala State Industrial Development Corporation Ltd. (KSIDC) is seeking a private partner to develop, design, build, finance, operate and transfer of an integrated solid waste management and wast...
Read more -
January 11, 2019
RFQ launched for the development of eco-tourism resorts in Andaman and Nicobar
The Union Territory Administration of Andaman and Nicobar has launched Request for Qualifications (RFQ) for the development of three eco-tourism resorts across the archipelago. The authority is seeki...
Read more -
January 10, 2019
Financial close achieved for road widening project in Maharashtra
MEP Infrastructure Developers has announced that its subsidiary MEP Longjian VTR Road has achieved financial close of a road widening project in the Indian state of Maharashtra. The project involves...
Read more -
January 10, 2019
Indian state seeking private partner to upgrade bus ticketing systems
The Directorate of State Transport of the Government of Haryana, a state in northern India, is seeking a private partner to implement an e-ticketing, Radio Frequency Identification (RFID)-based pass s...
Read more
