India

The country’s highways authority will have to choose between accepting a bid that’s lower than its base price of $766m or restructure and re-tender the bundle of eight toll roads.

Investors are unhappy about the short time given to prepare the bids, which are due 14 February.

When one of the country’s biggest groups ran into financial trouble, the country braced itself for a market-wide crisis. Two months later, market observers describe the episode as a new step towards a more professional infrastructure sector. Eduard Fernández reports.

Two weeks after putting its renewables portfolio up for sale, the developer is looking to divest its roads business, as it works towards a restructuring plan.

The hubs are in major cities and have seen double-digit growth in the past five years.

The troubled company is also putting on the block under-construction wind assets with a total capacity of 104MW.

MK Sinha, co-head of GIP India, talks about the newly-established firm's strategy in India and how the country's infrastructure market is evolving.

The deal is a debut transaction for the government-backed vehicle’s Strategic Fund and comes amid growing concerns surrounding bad loans in the country’s infrastructure sector.

The troubled firm's large portfolio includes more than 14,000 kilometers of roads, wind energy and solar plants and maritime and logistic assets.

The new vehicle will focus on biomass, healthcare infrastructure, PPPs and waste and water facilities, as Asian renewables ‘heating up’.