birou notarial
MUMBAI | Tue May 24, 2011 4:00am EDT
MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.
Isolux Corsan will bring in an equal investment in the venture through the unit.
The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.
India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.
The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.
"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.
The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)
Birou Notarial Bucuresti
Baloane
MUMBAI | Tue May 24, 2011 4:00am EDT
MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.
Isolux Corsan will bring in an equal investment in the venture through the unit.
The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.
India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.
The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.
"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.
The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)
Baloane
Cost aparat dentar
MUMBAI | Tue May 24, 2011 4:00am EDT
MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.
Isolux Corsan will bring in an equal investment in the venture through the unit.
The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.
India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.
The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.
"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.
The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)
Cost aparat dentar
