CDPQ, Sekura Roads in race for GR Infra’s HAM road projects
MUMBAI: Canadian pension fund Caisse de depot et placement du Quebec (CDPQ), seeking to strengthen its ownership of Indian road assets, is engaged in talks with Delhi-based GR Infraprojects to acquire the latter’s projects run under a hybrid annuity model, two people aware of the talks told ET.
Besides CDPQ, domestic player Sekura Roads Ltd., backed by Edelweiss Infrastructure, is also in the race for buying out 7 ongoing HAM projects that have enterprise value of Rs 4,000-4,500 crore.
The projects include 80 km Phagwara–Rupnagar Section of NH-344A in Punjab; 39km Akkalkot– Solapur and 45 km Sangli– Solapur sections in Maharashtra; 61 km Handia—Varanasi section of NH-2 in UP; 117 km Porbandar–Dwarka section of NH-8E and Dwarka-Khambaliya— Dewaria Section in Gujarat; and 69 km Gundugolanu-—Devarapalli-—Kovvuru section of NH-16.
