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Essel Infraprojects looks to sell six road assets to NIIF

Wednesday, 16 Oct 2019

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The Essel Group-owned Essel Infraprojects is in advanced talks to sell six road projects to the National Infrastructure and Investment Fund (NIIF).

The Group is looking at selling its non-media assets to reduce its debt. Essel Infraprojects has already sold three of its road projects to Caisse de dépôt et placement du Québec (CDPQ) in a deal valued at about Rs 3,500 crore.

For the other six road projects, the Essel Group is expecting to make over Rs 4,000 crore. The deal value will also include Essel Infraprojects’ debt. The entire proceeds of the sale will go into debt repayment. If the deal with NIIF goes through, it will bring down the promoter debt in the Group to Rs 3,000 crore.