Morgan Stanley Infrastructure (MSI) and Spanish Group Isolux Corsan have decided to jointly invest $200 million each in Indian infrastructure, preferably highways.
The $400-million investment will be routed through a holding company, Isolux Corsan Concesiones. Part of the investment will be towards equity to highway development projects, being implemented by Isolux Corsan in India. Remaining investment will be routed for new and brownfield projects.
Less than half of the $400 million will be invested as equity in three highway projects.
Isolux Corsan, in partnership with Soma Enterprises, is implementing three national highway projects with a length of over 400 km, estimated to cost over $1.6 billion, which have already been debt financed from financial institutions and equity from Isolux CorsÃ¡n.