Reliance Infra to consolidate transport businesses
Mumbai: Reliance Infrastructure (RInfra) has initiated a process to spin off a new unit, called Reliance Transport, to take care of its interests in railway, metro, airport and road projects even as the proposed listing of Infrastructure Investment Trust (InvIT) faces what the company calls “some procedural delays” after receiving the nod from the stock market regulator. Analysts say that the move is to generate positive investor sentiment. A Reliance Infrastructure spokesperson said, “RInfra InvIT is on track and will be launched shortly.” A senior RInfra official told DNA Money that four of its businesses such as roads, metro, airports and railways would be consolidated into a single strategic business unit. "We intend to go big in the transport space," said the source, without giving any details. At the moment, RInfra under the Reliance Airport Developers Pvt Ltd banner operates five brownfield airports in Maharashtra – at Nanded, Latur, Baramati, Yavatm...