India-Backed PE Group Preps $300M Roads Project Push

Law360, New York (November 29, 2011, 7:09 PM EST) -- Indian private equity firm Ashok Piramal Group has partnered with state-sponsored developer Infrastructure Development Finance Co. Ltd. and Canadian engineering firm SNC-Lavalin Group Inc. to jointly develop highway projects in India, the companies announced Tuesday.

The companies have agreed to a public-private partnership that will commit between $250 million and $300 million in financing for Indian infrastructure projects over the next three to five years, the companies said.

According to Tuesday's joint statement, Ashok Piramal subsidiary Piramal Roads Infrastructure will own a 51 percent equity stake...
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