Tata Realty & Infrastructure (TRIL), a part of the Tata Group, is likely to form a JV with Actis to take up road projects.

The JV - TRIL Roads - is likely to invest $2 billion (approx Rs 8,900 crore) in building roads, by 2015. The JV intends to build at least five road projects with a minimum length of 500 km each in the next few years. While TRIL is likely to hold 65 per cent in the JV, the remaining stake is to be with Actis.

TRIL plans to invest $122.5 million (approx Rs 544 crore) in the JV from internal accruals. Actis is likely to pay $77.5 million (approx Rs 345 crore) to acquire the stake in the JV. Atlantia, Italy, a technical partner of TRIL, has agreed to invest $200 million (approx Rs 890 crore) to acquire a stake in SPV to be floated for setting up the projects.

The combined $400-million (approx Rs 1,780 crore) investment planned by TRIL, Actis and Atlantia will help them attract at least $300 million (approx Rs 1,335 crore) as 'viability funding' from the Union Government. The remaining $1.3 billion, of the planned $2-billion investment, is to be borrowed from financial institutions.