‘No plans to increase our stake to 100%’
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On the day, the National Highways Authority of India board cleared the transfer of 74 per cent stake in Delhi Gurgaon expressway project, Rajiv Lall, managing director and CEO of IDFC told The Indian Express that bigger concern for him is the proper operations of the project. Excerpts:
With a debt of Rs 1,600 crore coming to you, How big an issue is that?
The debt we will inherit is not a big deal, as its an eminently serviceable one. The bigger issue to my mind is the proper operations of the project, which has been in news for all the bad reasons recently.
How do you plan to tackle the operational part? What should a commuter expect now?
The proposal has just been cleared today and the deal will take some weeks to conclude. So, we are giving thought to the various aspects of running it. But one thing is sure, we will outsource the operations and maintenance of the project including tolling for instance. This is necessary to ensure professional management of the project.
Do you aspire to increase your stake to 100 per cent in the project?
No. We do not plan to increase our stake to 100 per cent in the project.