Advertise Here [728 W x 90 H pixels]
Construction : Web Exclusive | October 2013 | Source : Construction Update

R-Infra to sell road projects to cut its debt

To cut down its debt burdern of about Rs 21,976 .18 crore, Reliance Infrastructure (R-Infra) is mulling to sell either all or most of its 11 road projects. R-Infra is a part of the Anil Ambani-led Reliance Group. R-Infra has appointed consulting firm EY or Ernst and Young, to oversee the sale. The road projects, with a total length of 968 km and on which R-Infra has spent around Rs 11,700 crore, are being offered for sale to potential buyers and is yet to finalise their sale. The company's plan comes at a time when nearly 50 roads projects are up for sale in the country as infrastructure companies building them struggle with problems including delayed government approvals, land acquisition hassles and a funding crunch in the face of high borrowing costs.
 
Advertise Here [728 W x 90 H pixels]