Gayatri Infra Ventures Ltd (GIVL), a wholly-owned subsidiary promoted by Gayatri Projects to hive off its BOT projects, has entered into a definitive agreement with AMP Capital Finance, which will invest Rs 200 crore for a 29% equity stake in the company.

Speaking to media, Gayatri Projects managing director TV Sandeep Kumar Reddy said that AMP will initially invest Rs 100 crore, which will be utilised towards existing projects and also for future bids and concessions being undertaken by the company. GIVL is incorporated to operate as an investing company in transportation infrastructure sector. While Gayatri Projects will continue with the EPC projects, he added.

Ganyatri Projects, owned by the former Union minister T Subbirami Reddy, has already engaged in five BOT projects amounting to Rs 3,000 crore. “We have transferred all these projects into the new company and plans to pursue future BOT projects in the Gayatri Infra,” TV Sandeep Kumar Reddy said. It has already applied for qualifications for about Rs 40,000 crore worth of road projects, Reddy added.

Speaking on the occasion, Anoop Seth, AMP co-head infrastructure Asia, said that the company has launched its new fund christened as Asia Giant Infrastructure Fund’ amounting to $750 million, is exclusively for India and China. “We have yet to launch the fund in China. We are looking for infrastructure projects like water, waste water treatment, road projects etc,” Seth said. Explaining the financials of GIVL, Reddy said that the company has a authorised capital of Rs 625 crore.