Tata, Actis to invest $200 mn in road, highway projects -Governance Now

Tata, Actis to invest $200 mn in road, highway projects

Big-ticket investors promise world-class quality and safety standards

PTI | April 29, 2010

Better quality roads promised

TRIL Roads Private Limited (TRPL) today said that it has signed an agreement with private equity investor, Actis, for a joint investment of USD 200 million in a private equity transaction.

TRIL will invest USD 122.5-million and Actis USD 77.5-million for roads and highway projects, a press release issued here stated.

TRPL is a 100 per cent subsidiary of Tata Realty and Infrastructure (TRIL) and holding company for roads and highway projects.

Over the next few years, TRPL intends to execute and develop roads and highway projects aggregating around Rs 9,000-crore.

TRIL has a partnership with Atlantia, one of Europe's largest toll road operators, to bid for concessions to upgrade, operate and toll existing Indian roads and highways.

Actis is investing in TRIL Roads, a subsidiary of Tata Realty and Infrastructure Limited, which, itself is a 100 percent subsidiary of Tata Sons.

TRIL chairman R K Krishna Kumar, said, "we are delighted to welcome Actis as a partner in our roads business...we will bring world-class quality and safety standards for the Indian roads sector and strive to improve the quality of life for the common man." .

TRIL managing director Sanjay Ubale said, "the partnership with Actis will greatly enhance TRIL's capacity to invest in large road projects that NHAI intends developing through the PPP format."

Tata and Atlantia bagged their maiden project in the roads and highway sector in 2009 by winning the concession for the 110-kilometre Pune-Solapur Expressway. This project, valued at Rs 1,375-crore is being implemented on a BOT basis from the National Highway Authority of India (NHAI), the release said.

TRIL is currently focused on long-term infrastructure projects of national significance, as well as projects in the real estate sector.

"With today's development, the consortium of Tata, Atlantia and Actis creates a triumvirate with excellent bidding credentials, fund-raising expertise and strong project development and operating capabilities," the release said.

Actis senior partner Paul Fletcher said, "high economic growth, an increasingly mobile population and greater levels of trade are fuelling traffic flows across India. The opportunity to develop an Indian road platform alongside a world-class partner like the House of Tata's is extremely compelling. We are delighted to be embarking upon this joint venture.

Comments

Other News

‘Oral cancer deaths in India cause productivity loss of 0.18% GDP’

A first-of-its-kind study on the economic loss due to premature death from oral cancer in India by the Tata Memorial Centre has found that this form of cancer has a premature mortality rate of 75.6% (34 premature events / 45 total events) resulting in productivity loss of approximately $5.6 billion in 2022

Days of Reading: Upendra Baxi recalls works that shaped his youth

Of Law and Life Upendra Baxi in Conversation with Arvind Narrain, Lawrence Liang, Sitharamam Kakarala, and Sruti Chaganti Orient BlackSwan, Rs 2,310

Voting by tribal communities blossoms as ECI’s efforts bear fruit

The efforts made by the Election Commission of India (ECI), over last two years, for inclusion of Particularly Vulnerable Tribal Groups (PVTG) communities and other tribal groups in the electoral process have borne fruit with scenes of tribal groups in various states/UTs participating enthusiastically in t

GST revenue for April 2024 at a new high

The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST

First Magahi novel presents a glimpse of Bihar bureaucracy a century ago

Fool Bahadur By Jayanath Pati (Translated by Abhay K.) Penguin Modern Classics, 112 pages, Rs 250 “Bab

Are EVs empowering India`s Green Transition?

Against the backdrop of the $3.5 billion Production-Linked Incentive (PLI) scheme launched by the Government of India, sales of Electric Vehicles (EVs) are expected to grow at a CAGR of 35% by 2032. It is crucial to take into account the fact that 86% of EV sales in India were under the price bracket of $2