Thursday, September 29

Ferrovial closes the purchase of 24.9% of india IRB Infraestructure for 369 million

In any case, this participation will not grant Ferrovial -through its subsidiary Cintra- control rights over IRB Infrastructure, so Virendra D.Mhaiskar, as well as his family and his holding company, will continue to be the majority shareholders of the company. and they will continue to control the management of the company.

Nevertheless, Cintra has become a relevant minority shareholder, with a presence on IRB’s board of directors and will support the company in its development, transferring its international experience in highway management and analysis of new investments.

IRB Infrastructure Developers manages 23 projects and around 2,000 kilometers of highways in a market in which investment projects have multiplied in recent years, with a growing presence of the PPP model of public-private collaboration.

Strategic plan in India

For the period 2022-2025, an investment in toll roads is expected to exceed 240,000 million euros in India, as well as privatizations for more than 18,000 million euros, which have attracted the attention of international financial and industrial investors.

“Government infrastructure promotion policies are combined, a favorable macroeconomic environment with notable expectations of increased motorization and a regulatory and legal framework that encourages investment and private management under different balanced concession models”, says the CEO of Cintra, Andrés Sacristan.

The executive explains that this investment in IRB Infrastructure Developers would represent for Cintra the entry into the infrastructure market of India, one of the countries that he believes will lead the growth of the next decade.

“The authorities are executing an impressive pipeline of concessions to improve connectivity and IRB has high-quality assets and capabilities to capture that anticipated growth. Our international experience as an investor and operator, combined with IRB’s local knowledge and talent, will deliver improvements. both operational and ESG, a field in which Cintra and Ferrovial are international benchmarks, “concludes Sacristán.

Reference-www.estrategiasdeinversion.com

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