Essel Highways today said it has secured a USD 85-million loan from global investment bank Goldman Sachs to finance new projects and strategic acquisitions.
“Essel Highways, a subsidiary of Essel Infraprojects Ltd, has secured the USD 85 million loan from the investment banker, which will be used to finance new projects and strategic acquisitions,” the company said in a statement.
These new funds will strengthen our ability to grow our road project portfolio and allow for additional strategic acquisitions, EIL CEO and Whole Time Director Ashok Agarwal said.
“The subscription of our debentures from a global reputed institution like Goldman Sachs further strengthens our position and help us in our endeavor towards becoming the most valued infrastructure company in India,” he said.
Since its inception in 2007, Essel Highways has assets valued at around USD 1.8 billion, the company has a road development portfolio of 14 projects, 10 of which are operational, equaling over 4,500 lane km across six states.
In March this year, Essel Green Energy, the solar asset holding company of EIL, also secured financing of USD 132 million from Piramal Enterprises and Dutch pension fund asset manager APG Asset Management for the development of solar assets in the country.