RInfra looking at ongoing construction projects in India
Anil Ambani-led Reliance Infrastructure is looking at several road and construction projects, which are under various stages of development in the country, in order to boost its portfolio.
RInfra is holding discussions with several players who are unable to execute projects they started due to lack of funds of other constrains, for taking over the project. Lalit Jalan, chief executive officer, RInfra has said that the company is looking to acquire secondary assets, mainly in the build-own-operate (BOT) space.
"We are actively looking at about 15 to 20 secondary assets. With our engineering and financial expertise, we expect 16-20% return on investment in such projects," said Jalan.
He did not announce the names of the companies that are holding discussions with RInfra. He only said that the company is negotiating with various parties that are unable to complete their BOT projects in the country.
The company already has a portfolio of 11 BOT projects. Out of the total, five are already operational and six are being implemented and five will be completed in the first fiscal. The company is also getting active in the power distribution sector and has recently been invited by the Nigerian government to improve power distribution infrastructure within the country.