February 4, 2023

Great Indian Mutiny

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1,000 million subsidiary of Feroviel in India | Companies

IRP Infrastructure, a new subsidiary of Feroviel in India, goes further after the Spanish group was formalized. Purchase of 24.9% of the capital And occupies two chairs on the board of directors. The award is formalized by the construction company and operators 130 km of highway In the state of Uttar Pradesh and has carried on Financial closure of its first offer in the Eastern States of India.

Both contracts in the publishing phase violate the overall operating budget 1 billion.

Ferroviel said the IRP had looked at infrastructure for promising development in the Asian region, where investment in customs is expected to be high. 240,000 million euros between 2022-2025 And privatization for ,000 18,000 million. IRB manages 24 customs and holds 20% stake Gold quartetRoad network connecting the main poles of India’s economic growth.

Cintra and GIC, two experienced partners

Founded in 1998, IRB Infrastructure maintains its board of directors following the entry of Cintra (Ferrovial) and GIC Holdings. Following a capital increase to allow new investors, Virendra Mysker reduced the key shareholder from 58% to 34% and took 19% of the capital.

Its offers include the Mumbai-Pune Highway, one of the most important in India. Its revenue last year was 30 630 million, with EBITDA 310 million. Its functionality integrates the function of concessions and construction.

It remains to be seen whether Ferrovium will use the investor as a base for expansion in that country or dare to launch projects on its own in the future. For now, his commitment is to provide support and knowledge on the IRP’s development plan.

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Key brokers

Part of this is the new expressway, which has been awarded a firm contract by the Uttar Pradesh Expressway Industrial Development Authority (UPEIDA). Bargaining plan (595 km). The aforesaid IRB is to operate the area between Meerut and Padaun with six lanes. Its budget is around 5 785 million, with three years of work and 33 years of operation.

It is its third highway in Uttar Pradesh, which runs 124 km of Agra-Ettawa and is under further investment. 350 millionAnd the 99-kilometer-long Hapur-Moradabad project is nearing completion and the investment figure is approaching. 400 million.

Regarding the offer with the financial closure reached last week, The Pulsit-TanguniThe NH19 sidewalk, located in West Bengal, is a six-lane road with a construction period of 910 days and more than 14 years of operation.

With a total of 64km of track, the budget investment is slightly higher 275 million.

The company completed another funding last December for the Pathankot-Mandi highway in the northern state of Himachal Pradesh.

With the new look at the Ganga project, the portfolio of the listed company in Bombay is close to 2,300 million, of which 1,500 million is for short-term work carried out by the team.