Several global funds and equity investors are making a beeline for investing in the highway sector, a move that will free up thousands of crores for Indian developers – funds that were held up in the absence of a government decision to allow existing players to exit immediately after completing the project.
Sources said Uniquest Infra Ventures, the joint venture between Malaysian government sovereign wealth fund Khazanah Nasional Berhad and IDFC, alone has expressed interest in buying stake in nearly a dozen road projects.
Similarly, SBI Macquarie Infrastructure Fund has discussed the possibility of investing up to Rs 20,000 crore in projects that are nearing completion. Tata Realty is eying four projects, while Morgan Stanley is entering the space too. Morgan Stanley is in talks for buying into KMC Constructions, which is getting all its road projects under one company. Morgan Stanley is also buying a 15 per cent stake in the Surat Hazira project.
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