TRIL will chip in $122.5 million and Actis $77.5 million in building the roads. The company is already involved, together with Atlantia, in the build of the 110 km Pune-Solapur Expressway. The expressway is part of the Highways Development Program, one of the largest of its kind in the world, and is needed to help accommodate the increasing traffic in the region.
"We are delighted to welcome Actis as a partner in our roads business. The House of Tata's has always endeavoured to set global standards of quality and excellence in the businesses we operate in," R.K. Krishna Kumar, TRIL chairman said.
"We will bring world class quality and safety standards for the Indian roads sector and strive to improve the quality of life for the common man. We are confident that this partnership will greatly contribute to the infrastructure development of the country."
"High economic growth, an increasingly mobile population, and greater levels of trade are fuelling traffic flows across India. The Indian government's National Highways Development Program is the largest highway development programme in the world," added Paul Fletcher, Actis senior partner.
"The opportunity to develop an Indian road platform alongside a world class partner like the House of Tata's is extremely compelling. We are delighted to be embarking upon this joint-venture."
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