GIC to invest Rs 4,400 crore in road platform of IRB Infrastructure

Singapore’s sovereign wealth fund GIC on Tuesday announced it would invest Rs 4,400 crore in the road platform of IRB Infrastructure Developers. 

“According to the transaction, IRB will transfer nine of its build-operate-transfer  assets to a private Infrastructure Investment Trust, in which IRB will hold controlling stake of 51 per cent,” the firm said.  

The portfolio spans across assets in Haryana, Uttar Pradesh, Rajasthan, Gujarat, Maharashtra, and Karnataka. While three of these projects have become operational, the balance six are under various stages of construction, the statement said. 

Five of the assets under construction are four- to six-laning projects, where tolling as well