Australian firm AMP Capital Investors will be investing Rs 200 crore in Gayatri Infra Ventures Ltd, a fully owned subsidiary of Hyderabad-based infrastructure company Gayatri Projects Limited (GPL).
Australian firm AMP Capital Investors will be investing Rs 200 crore in Gayatri Infra Ventures Ltd, a fully owned subsidiary of Hyderabad-based infrastructure company Gayatri Projects Limited (GPL).
The first instalment of Rs 100 crore will give AMP a 29 per cent stake in GIVL. “We will use it to fund existing projects as well as future bids and concessions undertaken by GIVL,” said Mr T.V. Sanddep Reddy, director, Gayatri Projects.
GIVL is a player in the transportation infrastructure sector and is into construction, operation and maintenance of roads, highways, bridges and tunnels. Apart from this, GIVL also wants to make downstream investments in other companies working on similar projects.
“We have already invested Rs 125 crore in GIVL,” said Mr Reddy. “AMP would bring in an additional Rs 100 crore. Apart from this, we are planning to invest Rs 400 crore as equity.” He added that AMP would be putting in another Rs100 crore if and when the need arose. AMP manages funds in excess of $104 billion (Australian Dollars). It will be investing in GIVL from its $750 million Asian Giants Infrastructure Fund meant for projects in India and China.
Source: Howrah