In one of the biggest fund infusion exercise, a consortium of investors led by Goldman Sachs Inc, in a recent move has agreed to invest $220 million in Essel Highways, the road infra company of Subhash Chandra owned Essel Group. In this connection, Goldman, the lead investor, has already made an initial $85 million, a third of the total investment, in exchange for debentures. With assets valued nearly $2 billion, the company has a road development portfolio of 14 projects, 10 of national equaling over 4,400 km lane across six states. The firm has an order book of nearly 11,000 crore. Investment momentum has increased in the road infrastructure space in past 12-18 months with many infrastructure-focused investors looking at putting money into Indian assets, analysts said. Global institutional investors such as Goldman Sachs and sovereign and, pension funds, have been actively looking at cash generating infrastructure projects, said official sources.
📅Published on:
16 August 2016
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