TRIL purchases Chattisgarh-based Durg Bypass road project

TRIL, a fully owned subsidiary of Tata Sons, has purchased the two-lane 18.4 km Durg Bypass road project in Chhattisgarh for about Rs 8 billion. TRIL acquired the toll road by taking a 51.6 per cent stake from its owner, SMS Infrastructure, while the balance 48.4 per cent is owned by the private equity partner, IDFC Alternatives Fund. TRIL is currently awaiting NHAI approval. The company is looking to invest about Rs 100 billion to build an infrastructure portfolio. It presently owns 2,200 km of roads after investing Rs 80 billion and aims to own 5,000 km by 2019.