ManagementTata Sons' $1-bn infra fund to close by Dec
Tata Realty and Infrastructure, which hopes to develop projects worth Rs 20,000 crore over the next three years, today said that the $1 billion infrastructure fund, sponsored by its parent company Tata Sons, is expected to close by 2009-end.
"The offshore fund was started in the middle of the last year. We hope to close the fund by the last quarter of the current calendar year," Kishore Saletore, chief financial officer, TRIL, said here.
TRIL has identified key thrust areas including roads and bridges, urban infrastructure, airports and logistic parks, he said, adding that the company would bid for NHAI projects, state highways.
"We are also evaluating metro, monorail, transport projects and redevelopment of rail stations and bus terminus," he said. TRIL, whcih has partnered with Changi Airports India, has already submitted special bids for participation in Udaipur and Amritsar airport project bids.
The company has tied up with Mitsubishi Corporation for metro projects and Grandi Stazioni for New Delhi Railway Station redevelopment,as well.
It is also planning to develop an SEZ at Gopalpur in Orissa in association with Tata Steel.