Gautam Adani will get these 3 projects! First you will have to compete with 20 companies.

Gautam Adani is busy expanding his business. Now his flagship company Adani Enterprises can get 3 projects. But this won’t be so easy. For this, Adani Enterprises will have to compete with 20 companies. If he leaves these companies behind, these three projects will be taken over by Adani. Now the question is what are these three projects? So 20 companies, including the Adani Group, have agreed to fight each other. After all, apart from Adani Enterprises, there are other companies that have started doing these projects.

This company has three projects.

Apart from Adani Enterprises of the Adani Group, the 20 companies that have shown interest in the projects are road assets of IL&FS. Whose names are Jharkhand Infrastructure Implementation, Jharkhand Highway Project Implementation and Baleshwar Kharagpur Expressway. Edelweiss Fund, Oriental Structural Engineers, GR Infrastructure and Kalyan Toll have also approached Adani to acquire these road assets. According to the information, for these three projects, corporate companies, infrastructure and road construction companies and funds have shown interest in these assets individually, jointly or both.

There is a debt of Rs 3,000 crore on the three projects.

According to information, there is a debt of Rs 3,000 crore in these three projects of IL&FS. This is the reason why IL&FS is forced to sell these three companies. IL&FS had sought EOI under the resolution process to sell its entire stake in these assets. The company expects to receive offers for the assets in the second quarter of the current financial year. However, under the Edelweiss Infrastructure Yield Plus Fund, the road platform Edelweiss Secura Roads has submitted its EOI. However, Edelweiss has not commented on the matter. Adani, Oriental Structural and GR Infrastructure have also not given any statement.

The company did not obtain approval.

IL&FS had earlier planned to transfer these three assets to InvIT i.e. Infrastructure Investment Trust. The company did not receive authorization to do so. After which IL&FS was forced to sell the three assets as part of the resolution process. According to the company spokesperson, the company has received very good response for the three assets which include JIICL, JRPCL and BKEL. Some companies have applied to buy all three, while others have shown interest in two and one of the projects. The entire process is expected to be completed in the current financial year.

Where and how are these projects operated?

If we talk about Baleshwar Kharagpur Expressway Limited, it is a wholly owned subsidiary of ITNL, a subsidiary of IL&FS. Balasore Kharagpur Expressway Limited operates and manages 477 kilometers of expressway lanes in Odisha and West Bengal under toll concession of the National Highways Authority of India. ITNL’s second wholly-owned subsidiary, JIICL, manages 160 lane kilometers of Section VII of Ranchi Ring Road in Jharkhand under an annual concession from the Government of Jharkhand. Similarly, JRPICL ​​​​manages and operates 664 lane kilometers of road assets in five different parts of Jharkhand.

Disclaimer

Content on this site may include articles generated by automated means or syndication feeds. While we aim for accuracy, automated content may not always reflect the latest developments. Readers are encouraged to verify information from multiple reliable sources.

 

Leave a comment

x