Cerestra Advisors, a Real Assets focused private equity firm based in Hyderabad, has launched a US$300 million offshore education-infrastructure fund.
Infrastructure/PPP news in India
The Rohatyn Group (TRG), a specialized asset management firm focused on emerging markets, and J.P. Morgan Asset Management have announced that TRG has acquired the J.P. Morgan Asian Infrastructure & Related Resources Opportunity (AIRRO) platform.
The Chief Minister of Andhra Pradesh, a state in the south-east of India, has decided to hand over the management of state highways to the private sector under a Public Private Partnership (PPP) scheme. In total, the highways span 4,000km.
Canada Pension Plan Investment Board (CPPIB) and Allianz Capital Partners (ACP), on behalf of Allianz insurance companies, have announced that they are acting as anchor investors in the first private infrastructure investment trust in India.
Global Infrastructure Partners to acquire Indian infrastructure asset management business worth US$1.8 billion
Infrastructure Development Finance Company (IDFC) subsidiary IDFC Alternatives Ltd is selling its infrastructure asset management business to Global Infrastructure Partners (GIP). The business manages assets worth about US$1.8 billion.
Indian Railway Stations Development Corporation (IRSDC) has announced that the redevelopment of Habibganj railway station, located in Madya Pradesh, will be complete by 31 December 2018 - a significant milestone in the authority's first public-private partnership. The redevelopment is being carried out by Bansal Group, who signed a contract for the project with IRSDC in July 2016.
Fairfax India Holdings Corporation has entered into an agreement to acquire an additional 6% of the outstanding shares of Bangalore International Airport Limited (BIAL) from Siemens Project Ventures GmbH, part of Siemens’ Financial Services Division, for an aggregate investment of approximately US$67 million.
The Government of Andhra Padresh has issued a request for proposals for the development of Amaravati Marina on a design, build, finance, operate and transfer (DBFOT) basis. Amaravati is the capital of Andhra Padresh, a state in the south-east of India. The estimated value of the project is about INR400 millions (US$6.14 million).
Mihan India Limited (MIL) has issued a Request for Proposals (RFP) for the privatization of Dr. Babasaheb Ambedkar International Airport, which serves the Indian city of Nagpur, in the central state of Maharashtra. The airport is located at 8km south-west of the city.
Macquarie Asia Investment Fund has won the contract to toll, operate and transfer (TOT) nine national highways in India, with a total length of just under 700 km. The company submitted a bid of INR96.81 billion (US$1.48 billion), almost 50% higher than the government's expected bid of INR62.58 billion (US$960 million).
Malaysia Airports Holdings Berhad (MAHB) Group has announced that it is selling its entire 11% stake in GMR Hyderabad International Airport Ltd (GHIAL), the company that operate Rajiv Gandhi International Airport in Telangana, India, to GMR Airports Ltd (GAL) for an amount of US$76.05 million.
Paras Healthcare, a leading healthcare provider in northern India, and Heavy Engineering Corporation (HEC), a public sector undertaking, have announced that they are going to develop a 300-bed super specialty hospital providing tertiary care services in the city of Ranchi, Jharkhand as a PPP project. The PPP contract was signed on 16 January 2018.
The government of the state of Andhra Pradesh has finally approved lone bidder Adani Ports and SEZ Limited as the developer of Bhavanapadu Port project. Located in the north-coastal district of Srikakulam, the proposed port would serve the hinterlands of Odisha and Chattisgarh and nearby districts in Andhra Pradesh, which is in the south-east of India.
The government of the state of Telangana has appointed a consortium of LEA Associates South Asia Pvt Ltd (LASA) and CRISIL Risk & Infrastructure Solutions Ltd (CRISIL) to serve as transaction advisors for the Nehru Outer Ring Road in Hyderabad, the first toll, operate, transfer (TOT) project in India.
GVK Power and Infrastructure (GVK) has signed a concession agreement with the City and Industrial Development Corporation (CIDCO) of Maharashta to create a special purpose vehicle (SPV) for developing the Navi Mumbai International Airport (NMIA).
Japan Highways International (JHI), a Japanese consortium of infrastructure investors comprising Mitsubishi Corporation, East Nippon Expressway Company Limited (NEXCO East) and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN), has signed definitive agreements with Cube Highways to acquire a 20% stake in the company.
Cube Highways has announced the signing of definitive agreements for a minority stake sale to an entity that is ultimately wholly-owned by the Abu Dhabi Investment Authority (ADIA).
The government of Bangladesh under the Ministry of Housing & Public Works has released a Request for Qualifications (RFQ) seeking interested firms to undertake the development of Flyover from Shantinagar to Dhaka-Mawa Road through Public Private Partnership.
As we reported in February 2017, MIAL was declared the winning bidder for the greenfield airport that will be built in a Public Private Partnership (PPP) mode with CIDCO. MIAL will hold a 74 per cent stake while the remaining 26 per cent will be with CIDCO.
The National Mission for Clean Ganga (NMCG) and the state governments of Uttar Pradesh and Uttarakhand have awarded work to private sector for construction and maintenance of Sewage Treatment Plants in two major cities in Ganga river, Varanasi and Haridwar.