Business News

Published: Wednesday August 7, 2013 MYT 2:31:00 PM
Updated: Wednesday August 7, 2013 MYT 2:34:51 PM

Khazanah Nasional eyes Bangalore-based GMR Infrastructure’s four road assets

NEW DELHI, Aug 7 (Bernama): Khazanah Nasional Bhd, is said to be the frontrunner to buy Bangalore-based, GMR Infrastructure’s, four road assets, according to media reports here.

It was reported that GMR plans to sell these assets for around Rs1,500 crore to Rs2,000 crore (RM789mil to RM1.05bil) to ease the firm’s liquidity pressure and to pare down debts.

Earlier reports said Pochanpalli Expressways, Ulundurpet Expressways, Hyderabad-Vijaywada and Hungund Hospet as the assets on the table.

Pochanpalli, a 412Km road project between Adloor-Yellareddy and Gundla Pochanpalli on NH7 in Hyderabad, Andra Pradesh, commenced commercial operations in March 2009. 

Ulundurpet is a 292Km stretch between Tindivanam and Ulundurpet on NH45, Tamil Nadu, which started commercial operations in July 2009. 

Vijayawada-Hyderabad is a 272Km expressway while Hungund Hospet is a 99.05Km Expressway in Karnataka state.

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