The Hindu Business Line : TransAsia plans $1-b India-specific fund

Kolkata May 14 TransAsia Infrastructure Holding, a US investment holding company, plans to launch an India-specific $1-billion urban infrastructure fund by the end of this calendar year, according to Dr Ravindra Verma, Managing Director, Second Vivekananda Bridge Tollway Company Pvt Ltd (SVBTC).

TransAsia is a part of the consortium that has been awarded the second Vivekananda Bridge project.

The TransAsia group is represented by Consulting Engineering Services, one of the largest engineering firms in India, Parsons Brinckerhoff Infrastructure Development Company, the project development and privatisation services arm of the US-based Parsons Brinckerhoff Group of Companies, and the Philippines-based Carter-Burgess Phils Inc.

According to Dr Verma, TransAsia would be the "principal promoter" of this fund while "some of the other companies" in the SVBTC consortium would also invest in the fund.

Besides TransAsia, the SVBTC consortium also includes Pacific Alliance Group, Strategic Alliance Development Corporation, Larsen and Toubro and IJM Corporation. TransAsia is also in talks with "various global investors," Dr Verma said without mentioning any names.

"The primary focus of the fund will be in West Bengal, especially in the transport infrastructure segment. The fund will also invest in (infrastructure) projects outside West Bengal, in the northern part of India," Dr Verma told Business Line.

The company plans to showcase the second Vivekananda Bridge project during the launch of this fund. In Kolkata, the proposed fund would take part in the bidding process for the upcoming greenfield international airport project, a deep sea port project, and the light rail transit system.

On the second Vivekananda Bridge, Mr Verma said that work was expected to be completed by the end of the month. The bridge would be formally inaugurated by the Prime Minister, Dr Manmohan Singh.

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