Tata, Actis to float JV for road projects

TRIL Roads Pvt Ltd (TRPL), a wholly-owned subsidiary of Tata Realty And Infrastructure (TRIL)--holding company for roads and highway projects for Tata Group, would invest USD 122.5 million, while Actis would contribute USD 77.5 million, it said in a statement.

"We will bring world class quality and safety standards for the Indian roads sector and strive to improve the quality of life for the common man. We are confident that this partnership will greatly contribute to the infrastructure development of the country," TRIL Chairman RK Krishna Kumar said. Over the next few years, Tata Group intends to execute and develop road and highway projects aggregating about Rs 9,000 crore.

Besides, Tata Realty and Infrastructure has partnership with Atlantia, one of Europe's largest toll road operators, to bid for concessions to upgrade, operate and toll existing Indian roads and highways. Tata & Atlantia bagged their maiden project in the road & highways sector in 2009 for the 110-km Pune-Solapur Expressway valued at Rs 1,375 crore.