Crisis-hit IL&FS looks to exit long-term project financing business

Crisis-hit firm to concentrate on management and execution of infrastructure projects

Shareholders of Infrastructure Leasing & Financial Services (IL&FS) are discussing a restructuring proposal under which the company will focus mainly on the management and execution of infrastructure projects, including engineering, procurement and construction (EPC) contracts, and exit the financing of long-term projects.

Some assets of the infrastructure development and finance major, which is facing a severe liquidity crunch, will also be put up for sale to pare its debt. 

A top source aware of the developments in IL&FS said the company had strong project management and execution skills for infrastructure projects, similar to those of global firms like Bechtel. The