Feedback Ventures Ties Up with Portuguese Road Co

Introduction

Feedback Ventures has entered into a joint venture agreement with Portuguese toll road concessionaire and operator, Brisa Auto Estradas de Portugal.

The joint venture company, in which Feedback has 60 per cent stake, will provide operations, maintenance, and tolling services to highway developers in India. But the venture does not aim to get into the development space.

Separately, Brisa, a company with a topline of € 677 million (2009) is also looking at entering into a long-term agreement with highway developers in India.

Initial investment

The initial equity investment in the joint venture company is Rs 20 crore. The company says it will bag its first customers very soon.

“We are in the advanced stage of discussions with all large developers,” said Mr Vinayak Chatterjee, Chairman, Feedback Ventures.

New parameters

Mr Parvesh Minocha, Vice-Chairman, Feedback Brisa Highways OMT, said that they will introduce new parameters for the developers in OMT space.

“We will bring in new practices such as time spent in crossing a highway and safety levels.

“The basic services to be provided will be displayed on the highways for the users,” said Mr Minocha.

Source

India Brand Equity Foundation, January 17, 2011