With a projected $70 billion (£45 billion) worth of investment and a primary market that still has a long way to go, opportunities for PPP (public-private partnerships) in India are plentiful. Among the major projects in the pipeline are express ways and four-laning.
“It’s going to attract bigger players - smaller players won’t be able to raise the finance required to go for these projects,” said Tushar Prabhu, director of Pell Frischmann, a UK-based engineering consultancy.
Banks are now asking for parent company guarantees and other forms of security that smaller companies cannot give.
“The opportunities in India are around acquiring some of these smaller players that get themselves into the projects but can’t compete on the next tranches,” added...