MEEF - Middle East Engineering Projects News & Releases - previous page

(MENAFN - Emirates News Agency (WAM)) Dubai-based Abraaj Capital and Sabre Capital, through their recently formed joint venture Sabre Abraaj, announced today the acquisition of a strategic stake in Ramky Infrastructure Limited (Ramky), part of the Ramky Group, a rapidly growing infrastructure construction and development firm based in Hyderabad, India.

This acquisition marks the first investment by the recently launched US$300 million Sabre Abraaj India Private Equity Fund Limited. The Fund seeks to take majority or strategic minority stakes in both listed and unlisted Indian companies.

 

Ramky has a growing contracting business in the construction of roads, highways, industrial buildings, housing, irrigation canals, water supply and drainage systems. The company has also invested in an industrial park and housing development projects on a Build-Operate-Transfer (BOT) basis in partnership with the Indian government. Ramky will use the new capital in order to take on larger construction projects and make additional investments in BOT projects.