`IRB Infra, GIC to jointly bid for all future road projects’
IRB Infrastructure Developers said a partnership with Singapore’s sovereign wealth fund will help it bid for much larger projects and boost revenue.
The company will jointly bid with GIC Pte for all future projects, IRBs Chairman and Managing Director Virendra Mhaiskar said in a phone interview. GIC invested as much as ₹4,400 crore ($620 million) to acquire 49 per cent of an investment trust sponsored by IRB, the companies said in a filing on Tuesday.
We will have a strong financial partner in GIC, Mhaiskar said. The sheer size of business that we can now look at, doubles.
