Soma Enterprise Limited

Nature of the business

Soma Enterprise Limited (“Soma”) is one of the fastest growing and largest infrastructure developers in India. The company specialises in sectors such as roads, bridges, hydro power, irrigation and urban infrastructure. Building on its strong track record in construction, Soma has continued to grow its build-operate-transfer (“BOT”) portfolio. It has a road BOT portfolio and a pipeline of non-road BOT projects which includes two power projects and an urban infrastructure project.

Investment rationale

Indian roads are an attractive asset class; the Indian government envisages $75bn of investment towards upgrading or building roads over the next five years, largely through the Public Private Partnership (“PPP”) model.

The investment gave us an opportunity to partner with a market leading company which is well placed to take advantage of the growth in infrastructure development in India.

Soma has a strong track record of delivering projects ahead of time and within budget. In addition, it has a well developed order book, which provides high visibility over the development for the business over the next few years.