Debt Retiring Plan at IVRCL: Company is Planning to Sell Three Road Projects to Tata Realty

HYDERABAD — The i

nfrastructure firm IVRCL is close to selling three of its road projects to Tata Realty and Infrastructure Ltd in an attempt to retire debt and replenish equity funds to help it take up new projects, according to four persons familiar with the development.

The move comes just days after the news broke of rival NCC being close to signing deals for selling its road assets, bringing further cheer for Indian road builders, who were finding it difficult to stay afloat. While GMR and GVK, pulled out of large projects, IVRCL had decided to stay away from BOT (build, operate and transfer) road assets.