Spriha Srivastava
US private equity group Blackstone has decided to invest $300m in Indian energy firm Moser Baer. The capital will be used by Moser Baer to fund its expansion plans. Meanwhile, reports suggest that the private equity firm plans to invest up to $3bn in the Indian infrastructure and consumer sectors over the next five years.
Tata Capital, part of India's Tata Group, aims to launch a $100m to $250m debt fund to finance investments in infrastructure. The group is also planning to launch a separate infrastructure finance company by the end of 2011, which will make it easier to raise overseas funding under Indian law.
Nandi Infrastructure Enterprise is understood to be planning to sell a 10 percent stake in the first phase of the Bangalore-Mysore Infrastructure Corridor (BMIC) to a JP Morgan-managed private equity fund. The project is estimated to be worth between INR12bn to INR15bn.
The Indian port developer and operator based in Gujarat, west India, has received regulatory clearance from Securities and Exchange Board of India (SEBI) to launch its proposed initial public offering (IPO) on August 23. The IPO is expected to raise INR5bn which will be used for debt repayments and investments in infrastructure facilities.
A Macquarie SBI Infrastructure Fund-led consortium has bought an 11% stake in Viom Telecom, an Indian mobile tower operator. The stake, worth INR14bn, is the largest investment made by the fund to date.
The government of New Zealand has announced that any future projects by government agencies that are worth more than $25m will be required to consider alternative options including public-private partnerships. In related news, a Chinese firm is looking to make investments in New Zealand’s road projects.
Balfour Beatty, a British infrastructure developer, has reached financial close on a £230m street lighting contract for Coventry City Council. The project has been awarded for a concession period of 25 years.
Egypt’s housing minister has said that six Egyptian and global alliances have applied for the financing and implementation of the Rod El Farag highway in Cairo. The minister said a shortlist of accepted companies will be announced within 15 days.
The International Finance Corporation (IFC) has announced that the final stretch of Colombia’s 1,071-kilometre Ruta del Sol highway has reached financial close. The highway will link Colombia’s main agricultural, industrial and urban centres.
India-focused Infrastructure Development Finance Company (IDFC) has announced plans to raise up to INR25bn by issuing tax-free bonds to investors in 2011. A senior company official said further details of the bonds will be announced in the next three to four weeks.