Comments
Infrastructure Development Finance Co Ltd and Khazanah, the investment holding arm of the Malaysian Government, will set up a dedicated infrastructure development company with a focus on the road sector in India.
According to an IDFC announcement to the stock exchanges, Khazanah will hold 80.1 per cent stake in the proposed joint venture and IDFC the rest. The two partners also propose to invest in convertible instruments issued by the joint venture. The joint venture's first investment will be in Jetpur Somnath Tollways Ld, which has a project to four-lane the Jetpur-Somnath section of National Highway 8D in Gujarat.
According to the release, IDFC Projects Ltd now holds 74 per cent of the share capital of Jetpur Somnath Tollways Ltd. The joint venture will initially acquire 48 per cent of the share capital in this company from IDFC Projects Ltd and will ultimately acquire the latter's entire shareholding in JSTL.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.