India Developing, but still a long way to go

[Water Car Engineer]

Morgan Stanley fund to invest $200-M in India infrastructure

MUMBAI - Morgan Stanley's Global Infrastructure Fund will invest $200 million for an equity stake in the Indian arm of privately held Spanish construction firm Isolux Corsan, the Economic Times newspaper said in a report on Saturday.

The $4 billion fund, which was raised in May 2008, will invest in Isolux which builds roads in north India, the paper quoted people familiar with the development as saying.

In 2010, it had teamed up with Goldman Sach's Infrastructure Fund, General Atlantic, Norwest Venture Partners and Everstone Capital to invest $425 million in Asian Genco, a Singapore-headquartered fund which owns power plants in India.

Morgan Stanley fund to invest $200-M in India infrastructure | ABS-CBN News | Latest Philippine Headlines, Breaking News, Video, Analysis, Features

Morgan Stanley to buy stake in Indian arm of Isolux: report news

Morgan Stanley's Global Infrastructure Fund will invest $200 million for an equity stake in the Indian arm of closely-held Spanish construction major Isolux Corsan, according to a report in The Economic Times quoting people familiar with the negotiations. Executives at the Morgan fund and the company declined to comment.

Isolux India builds roads in north India. Gautam Bhandari, who also manages the fund's portfolios in the Middle-East and Africa, heads the India unit of the fund. The $4 billion fund was raised in May 2008.

This will be the second investment here by the fund. Last year, it teamed up with Goldman Sachs' infrastructure fund, General Atlantic, Norwest Venture Partners and Everstone Capital to invest $425 million in Asian Genco, a Singapore-headquartered firm which owns power plants in India.

Many large global funds, including Blackstone and Kohlberg Kravis Roberts, have announced multi-billion dollar funds for Indian infrastructure, though few have actually hit the road here. Last year, Tata Realty, a Tata Group firm, formed a joint venture with private equity firm Actis to invest in road projects.

Morgan Stanley shut its proprietary investment desk in India in 2008 after the long-famed investment bank was hit by the credit crisis. The investment management arm globally manages several billion dollars. The Isolux funding is one of the largest private equity investments in the road sector here. JPMorgan, Blackstone, 3I and Actis are among the largest investors in the sector.

In September 2007, Nagarjuna Construction Co received $150 million funding from Blackstone. JP Morgan's fund division invested $111 million in Nandi Infrastructure Corridor Enterprises in December 2010. Actis and 3I also made investments last year, investing $78 mil-lion each in TRIL Roads and Soma Highway Toll Projects.

Isolux Corsan operates in engineering, construction, manufacturing, concessions and property development. The company has presence in more than 32 countries, including Spain.

domain-b.com : Morgan Stanley to buy stake in Indian arm of Isolux: report

 

[The HBS Guy]

Thank God that this thread is back.

 

[Water Car Engineer]

 

[Water Car Engineer]

UPDATE 1-India's Dec infrastructure output accelerates

* Infrastructure sector output grows 6.6 pct in Dec

* Oil, coal, steel output rise in Dec but cement contracts

* Data an advance indicator of industrial output

NEW DELHI, Jan 31 (Reuters) - India's infrastructure sector output ININFR=ECI accelerated in December, reinforcing expectations that growth in industrial output remains on track despite capacity constraints.

Output of six key industries grew 6.6 percent in December, faster than an upwardly revised growth of 3 percent in November, government data showed on Monday, but slower than the broader economic growth of about 8.5 percent this year.

Crude oil and petroleum refinery products output grew 15.8 percent and 8.3 percent, respectively, from a year earlier. Finished steel output rose more than 11 percent, but cement production contracted 2.2 percent, indicating a slack in construction activity.

The infrastructure sector makes up more than 26 percent in the index of industrial production, although underinvestment in infrastructure and delays in project execution have long been a drag on economic growth.

Kamal Nath, a high profile minister who was in charge of roads and transport, was recently shifted to the ministry of urban development. Nath had pledged to build 20 kilometres of roads a day but work on the ground fell short of that target.

The infrastructure data is considered an advance indicator of growth in industrial output, which has been volatile in recent months, although the dominant concern for India's central bank is tackling headline inflation, caused partly by the knock-on effects of high food prices.

India's annual industrial output INIP=ECI slowed to an 18-month-low of 2.7 percent in November, raising fears of slowing industrial growth due to capacity constraints and waning demand after the Indian festive season.

However, headline inflation of above 8.40 percent prompted the Reserve Bank of India to raise rates last week for the seventh time since March to stem price pressures.

India expects to invest about $500 billion in infrastructure, mainly in power, telecoms, roads, railways and oil pipelines, in five years to the end of March 2012 to lift growth near double digit levels. It aims to double spending on infrastructure to $1 trillion in its next five-year plan, which runs from April 2012. (Reporting by Abhijit Neogy; editing by Aradhana Aravindan)

UPDATE 1-India's Dec infrastructure output accelerates | Reuters

 

[Water Car Engineer]

$7.4 b ADB assistance for infrastructure

Manila-based Asian Development Bank (ADB) has agreed to extend an aid quantum of $7.4 billion to India for developing its infrastructure for a three-year period (2011-13).

In an official statement here on Monday, the multilateral financial institution said: “The ADB and the Union Government have agreed on a new three-year business plan that will provide lending assistance of $7.4 billion to support inclusive and environmentally sustainable growth in the country.''

A major thrust of ADB's ‘India Country Operations Business Plan' (COBP) for 2011-13, the statement said, will be to support infrastructure development, particularly through public-private partnership (PPP) programmes. The ADB noted that supporting the government's efforts to redress inter-State economic disparities is also a key cornerstone of the COBP which is aligned to the country's XI Plan (2007-12) and the bank's long-term strategy for reducing poverty in the region. Continued assistance for development of the vital energy sector by means of projects involving clean and renewable energy is another key focus area, it said.

“The ADB is pleased to note that approval of the India COBP comes against the backdrop of record performance by the ADB in terms of both programme delivery and portfolio performance in 2010… We very much look forward to continue to work closely with the Government of India in implementing the projects in the COBP to help promote inclusive growth and reduce poverty in the country,” ADB's Country Director (India) Hun Kim said..

The ADB said that it would continue with its projects in transport, energy and urban sectors in States like Assam, Bihar, Chhattisgarh, Himachal Pradesh, Madhya Pradesh and Rajasthan to help bridge inter-State economic disparities. It would also continue to provide assistance for the national rural roads development programme in Assam, Chhattisgarh, Madhya Pradesh, Orissa, and West Bengal and for public resource management in Assam and Mizoram.

The Hindu : Business / Industry : $7.4 b ADB assistance for infrastructure

 

[Water Car Engineer]

Krishnapatnam Port

 

[Water Car Engineer]

Note the city on the right and the huge slum on the left..

 

[LaBong]

^ please do post the city name and place.

Calcutta skylines.

 

[LaBong]

 

[Mirza Jatt]

^^^I love this track..delilah from plain white T's

 

[Mirza Jatt]

@ Abir - and the second pic I saw today in newspaper..its the first such kind in India..like a cloud in the sky..is it finalised ??

 

[true_indian]

^ please do post the city name and place.

Calcutta skylines.

That's mumbai.

 

[LaBong]

@ Abir - and the second pic I saw today in newspaper..its the first such kind in India..like a cloud in the sky..is it finalised ??

It's finalised on behalf of investors but don't forget they will erect it on wetlands! I just hope medha patekars and the new environment license raj won't meddle into this!

The cloud thing I guess will be first in India, it'll be awesome sipping your favourite poison sitting up there! *crossed fingers*

 

[LaBong]

Note the city on the right and the huge slum on the left..

Looks really cool. Bombay has done so good in past two decades, why don't they build low-cost residential complex on those slums?

 

[Mirza Jatt]

It's finalised on behalf of investors but don't forget they will erect it on wetlands! I just hope medha patekars and the new environment license raj won't meddle into this!

The cloud thing I guess will be first in India, it'll be awesome sipping your favourite poison sitting up there! *crossed fingers*

yes man..I was jus so excited reading this today..the designs seems awsome and hats off to tat guy..I guess it was rahul saraf or something...anyways..its a brilliant idea..the most luxurious club in India.

and about the environemnt, I am sure, they might have already though about it...thanks to some other such controversies, they will always keep it in mind.