Maquarie-SBI invests Rs 110 cr in Ashoka Buildcon

Ashoka Buildcon Ltd, the highway concessionaire and EPC company, has received Rs 110 crore as the third tranche of investments in its subsidiary - Ashoka Concessions Ltd.

(ACL) from Macquarie-SBI Infrastructure Fund (MSIF), a joint venture infrastructure fund of State Bank of India (SBI) and Australia's Macquarie.

The fund will be utilized for equity investment into various under construction projects.

Macquarie-SBI has committed to invest $150 million (Rs 800 crore) in Ashoka   Concessions Ltd. Including this tranche, the total equity investment by Macquarie-SBI in ACL comes around Rs 490 crore and balance would be received as per equity requirements of projects under construction, said company statement.

Ashoka Buildcon Ltd currently has a portfolio of 25 BOT projects while Ashoka Concessions has a portfolio of seven toll roads including six national highway projects.