Tata's Cyrus Mistry plans $8 billion infrastructure push.

Cyrus Mistry, chairman of India's Tata group, is planning to spend at least $8 billion (around Rs. 48,880 crore recently) building roads, airports and housing, betting a stable administration after India's coming elections will lead to a new wave of infrastructure development.

Mistry, 45, who took over as the group's chairman in December 2012 after Ratan Tata's two decades at the helm, is expanding at least three unlisted infrastructure companies within the $100 billion conglomerate, according to two people familiar with his plans. The businesses will get more attention after Mistry has overhauled operations at bigger, listed Tata companies including the auto and steel units.

The initiative from Tata, which control assets including Jaguar Land Rover and New York's Pierre hotel, underscores the hope among Indian companies that infrastructure project approvals and spending will pick up when a new government is formed after elections ending in mid-May.


LIVEMINT