Lalit Jalan talks about his relationship with the Ambanis and why the honeymoon is over for infrastructure firms.
About 240,000 commuters travelled on the first day (Sunday) of the Mumbai Metro's operations, Reliance Infrastructure Ltd (RInfra) said on Monday.
Reliance Infrastructure said it plans to commission the Mumbai Metro rail project this year.
Reliance Infrastructure, part of the Anil Dhirubhai Ambani Group, has said the recent Supreme Court order on gas supply to sister firm Reliance Power (45 per cent owned by R-Infra) will not impact its projects.
The Anil Dhirubhai Ambani group company hasn't yet got the contract for executing the second phase of the Mumbai Metro, but Jalan's team has already started negotiating with domestic banks to tie up funds for the estimated Rs 11,000-crore (Rs 110-billion) project.
Lalit Jalan, the younger Ambani's Wharton classmate and CEO of R-Infra, tells Nevin John that the company will put in Rs 2,800 crore (Rs 28 billion) over the next three years as equity in various projects.
The company will now focus on value creation for shareholders in the defence and construction businesses.
As infrastructure, power hardly deal in cash, its paucity has failed to affect their receivables
The success of Anil Ambani's ambitious defence plan will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether the PM can get India's notoriously slow procurement process to work, say Paritosh Bansal, Sanjeev Miglani and Promit Mukherjee.
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
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