News / Nagarjuna Construction Company to sell five BOT assets in India

Nagarjuna Construction Company to sell five BOT assets in India

🕔 August 30, 2013
InfraRed to acquire 50% stake in Colombian road concession

According to local sources, Hyderabad-based Nagarjuna Construction Company (NCC) has decided to sell some of its build, operate and transfer (BOT) assets and to reduce debt on the company's books.

The BOT assets of the infrastructure development company include five road projects, which have commenced commercial operations. YD Murthy, NCC's executive vice president, told a local newspaper:
"We are looking at a strategic sale of two road projects and some real estate assets to reduce our debt, which is to the tune of Rs 2,225 crore (US$328 million)."

He said the company currently is having talks with potential buyers for the sale of two toll projects located in the states of Uttar Pradesh and Karnataka. Mr. Murthy expected to get around Rs 200-250 crore (around US$35 million).

NCC has also expressed interest in selling minority stakes the two joint venture power projects in which it had made investments. The company already sold a 5 % stake in the 100-Mw Himachal Sorang Power Limited and it is likely that a stake sale in the 1,320-Mw coal fire project at Krishnapatnam in Andhra Pradesh will be announced soon.



League Tables

InfraPPP accepts project & transaction submissions to ensure that the data we have in our databases is accurate.

Download Submission Form  Download Submission Form

Newsletter

Subscribe to our newsletter and get in your inbox jobs, news and business opportunities.


East Africa Energy & Infrastructure Summit
Requests for Expression of Interest in Ghana
Oman Power & Water Procurement Company

Follow us on Twitter