Mahindra Infrastructure Developers Ltd (MIDL) has drawn up plans to invest Rs 230 crore ($50 million) in various infrastructure projects over the next few years.
MIDL is a 80:20 venture between Mahindra Realty and Infrastructure Developers Ltd (MRIDL), the realty and infrastructure development arm of the Mahindra group, and the Washington-based International Finance Corporation (IFC). The company has already received approval for equity participation from the Foreign Investment Promotion Board (FIPB).
The company will develop, promote and manage infrastructure projects with primary focus on water and sanitation services, solid waste management and other urban infrastructure facilities including inter-city bus terminals, industrial and technology parks, a company statement said.
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Other areas of interest for MIDL include roads and highways, water transport systems, logistics and distribution facilities and projects for transmission and distribution of power, it added.