Chandrasekhar climbs on board

Hours after Railway Minister unveiled the new policy, Rajeev Chandrasekhar announced his intention to focus on the transport infrastructure in the country by floating a new firm, Hindustan Infrastructure, with an initial equity contribution of Rs 400 crore.

In all probability, this foray will later become a joint venture with an overseas partner. Chandrasekhar had recently sold BPL's mobile service business to Essar in a deal valued at close to $1 billion.

Chandrasekhar said, "I am pursuing this opportunity and the larger transportation infrastructure opportunity through this newly formed firm. After telecom, now transportation will be my principal focus area."

In addition to this, Chandrasekhar will focus on the FM radio business, besides being a venture capital investor. It is expected that he will earmark close to Rs 200 crore for the media business.