Projects & infrastructure

As reported in a number of publications, Richard Branson’s Virgin Hyperloop One is exploring entering India with the largely untested ultra-fast transportation technology.

India Infrastructure Finance Company Limited (IIFCL) has said to have provided a term loan of Rs. 156 crore (USD 23.8 million) to Gurugram based Mihit Solar Power under its Takeout Finance Scheme, for substituting the outstanding principal amount of the loan sanctioned by L&T Infrastructure Finance, for the purpose of developing and commissioning a 74 MW Solar Power Project in Mansa District, Punjab.

AZB & Partners partner Gautam Saha and partner Pallavi Meena, with associates Pragya Sood and Ayan Das have acted for Overseas Private Investment Corporation (OPIC).

Desai & Diwanji and Luthra & Luthra acted on the sale of Jaipur Mahua Tollway, a four-laning project conessionnaire of the Jaipur-Mahua section of National Highway 11, for Rs 525 crore to ISQ Asia Infrastructure I, an affiliate of US-based fund I Squared Capital.

Desai & Diwanji Mumbai partner Ketaki Gor Mehta, assisted by associates Niharika Mepani and Rahul Deodhar, acted for the IJM group.

Luthra & Luthra partners Sameen Vyas, Manmeet Singh and Suyash Srivastava, assisted by senior associate Viplav Sharma and associates Anubha Sital and Shantanu Gupta, acted for ISQ

Only 74 per cent of equity shares will be sold now, with the remaining 26 per cent being sold after approval from the National Highways Authority of India (NHAI) through put and call options.

Vaish Associates advised Jaiprakash Power Ventures (JPVL) in selling its BASPA Hydro Electric Project and its Karcham Wangtoo project to JSW Energy for Rs 9,700 crore.

JSW Energy was advised by Amarchand Mangaldas Mumbai partners L Viswanathan, Tushar Mavani and Ramanuj Kumar and senior associates Prateek Shroff and Abhimanyu Ghosh.

Vaish partner Bomi Daruwala, senior associates Yatin Narang and Shrinivas Sankaran and associates Tanya Sharma and Priyesh Sharma acted for JPVL.

The board of directors of JPVL approved the transfer of the 1391 MW projects into its subsidiary HBPC as a going concern through a scheme of arrangement which would would enable HBPC to be acquired by JSW Energy, reported The Hindu.