IVRCL gears up to sell all infrastructure assets

HYDERABAD: IVRCL has firmed up a business restructuring programme that includes selling all its infrastructure assets comprising road projects, desalination plant, tankages and oil wells with an immediate priority to sell the entire stake in the road projects, both completed and under construction. The shake-up is taking place within two years from the significant overhaul that the management embarked upon in 2009-10 wherein it had restructured the infrastructure ownership portfolio and merged it into IVRCL Assets & Holdings, a listed subsidiary where IVRCL owns 80.5%. IVRCL group chairman E Sudhir Reddy said, "The latest business restructuring involves shift in business focus towards engineering, procurement and construction from build, own and transfer keeping in view the steeply rising interest rates and input costs."