Madhucon Projects in process to close stake sale in 4 road projects

26 Jul 2013

Madhucon Projects is in process to divest four completed road projects and part stake in its power arm, which is implementing a 1,920-MW three-phase thermal power project in Andhra Pradesh. Because of adverse market conditions it is taking time to conclude the deal.

The infrastructure company has considered this sale after considering new guidelines brought about by the NHAI with regard to 100% divestment of stake, which encourages stake sale. With this initiative, the company can offload its interest in completed projects and focus on new ones. After this stake sell it will bring down its overall debt, which is of about Rs 3,500 crore.

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