Essel Infraprojects to sell three of its road projects to CDPQ

Essel Infraprojects Limited has agreed to sell three of its road projects to Caisse de dépôt et placement du Québec, Canada’s second largest fund manager. The assets are expected to fetch a combined enterprise value of Rs 33 billion-Rs 35 billion and the entire proceeds from the sale are likely to be used for debt repayment. The three projects are the Lebad-Jaora state highway project in Madhya Pradesh, the Navayuga Devanahalli national highway project in Karnataka and the Essel Dichpally Tollway in Telangana.