SNC Lavalin, India’s Infrastructure Development Finance Company Announce Joint Venture Through EDC

Montreal-headquartered engineering firm SNC Lavalin and India’s Infrastructure Development Finance Company Limited (IDFC) announced a joint venture to develop an exclusive partnership arrangement to build a diversified portfolio of operating and under construction road assets. The joint venture came to fruition as a result of an introduction by Export Development Canada (EDC), Canada’s export credit agency, an investor in one of IDFC’s infrastructure funds. SNC Lavalin and IDFC identified Ashok Piramal Group to complete the tri-party arrangement. The new company, called Piramal Roads Infrastructure Limited, will work to develop a portfolio of road assets in India.