The Hindu Business Line : REL board okays hiving off infrastructure projects biz

Mumbai, Oct. 31 The board of directors of Reliance Energy Ltd (REL), a part of Anil Ambani group, has approved a proposal to transfer its infrastructure projects to a separate 100 per cent owned subsidiary.

It is subject to compliance with applicable laws and approvals, the company said in a press release.

REL’s current portfolio consists of infrastructure projects covering development of roads, bridges, metro rail and real estate.

Roads, highways

The company in the last two years has emerged as a developer of road and highway projects for the National Highways Authority of India under the build, own, transfer scheme.

It is now involved in the four-laning of five National Highway projects in Tamil Nadu, covering a distance of 400 km at a cost of Rs 3,100 crore.

In addition, REL is currently pursuing a number of other large road projects including the Rs 5,000-crore, 20-km Western Freeway Sealink Project to connect Worli to Nariman Point in Mumbai, and the Rs 6,000-crore Jaipur Ring Road Project for the construction of a 12-lane, 150-km-long highway around Jaipur.

Biz district

Reliance Energy-led consortium has emerged as the preferred bidder for the development of a new business district over an area of 77 acres in Hyderabad City.

The project will have a built-up area of 11 million sq ft, and will include the construction of a 100-storey trade tower at an estimated cost of Rs 6,500 crore, the company said in a release.

More Stories on : Restructuring | Power | Reliance Energy Ltd | Infrastructure

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