Roadis in talks to buy out partner in Indian joint venture
Roadis, which builds and operates highways globally, is in talks to buy out partner Soma Enterprises in their equally owned joint venture in India, two people aware of the matter said.
The JV, Soma Roadis, has four highway concessions under the build-operatetransfer model in India, stretching 710 km — Panipat-Jalandhar (291 km), Kishangarh-Ajmer-Beawar (94 km), Surat-Hazira Port (133 km) and Varanasi-Aurangabad (192 km). “The discussions are at initial stages and clarity is required over the valuation as a lot of debt is with its Indian counterpart,” said one of the two people. Also, it is yet to be decided whether the assets to be kept independently under the Roadis platform or its newly formed JV with National Investment andNSE 0.48 % Infrastructure Fund, he added.
