MUMBAI: Morgan Stanley Infrastructure Partners (MSIP), an infrastructure fund, has decided to invest nearly $200 million in a joint venture with Isolux Corsan Concesiones in India. Isolux Corsan Concesiones is an infrastructure concessions arm of Grupo Isolux Corsan with revenues worth $4 billion. It is usually involved in large projects in sectors such as construction, engineering and concessions.
Grupo Isolux Corsan has also decided to invest the same amount of money in the joint venture.
Sadek Wahba, Global Head of MSI and Chief Investment Officer of MSIP, said, “We are very pleased to have concluded an exclusive deal for this addition to our global fund. This joint venture offers an excellent opportunity for Morgan Stanley Infrastructure to pursue its overall strategy of creating a stable portfolio of assets diversified by sector and geography. This platform will leverage Isolux Corsan's strong credentials in developing infrastructure assets for emerging markets and its proven ability to work with local construction companies.”