Wednesday , October 27 2021

Morgan Stanley to invest Rs 150 crore in Ashoka Buildcon’s CGD business

Morgan Stanley India Infrastructure will invest Rs 150 crore in Ashoka Buildcon’s city gas distribution (CGD) business — Unison Enviro (UEPL).

UEPL builds and operates CGD networks across cities and towns in India. UEPL has just started commercial operations of its first CGD project in Ratnagiri district in Maharashtra state. In the recently concluded ninth round of bidding for CGD licences, UEPL has won two additional CGD licenses, one in Latur & Osmanabad, also in Maharashtra, and one in Chitradurga & Davangere in Karnataka state.

Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.

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