Anil Ambani-led Reliance Group unit Reliance Infrastructure is said to be holding talks with pension funds and investment firms to divest its road assets.

It is believed to be holding negotations with firms such as the Brookfield Asset Management and CPP Investment Board, Livemint.com reported.

In order to bolster its focus on defence equipment manufacturing and reduce debt, the group has been selling its assets.

"Reliance Infrastructure’s road projects are believed to be valued at approximately Rs90bn ($1.3bn)."

Last November, Reliance Infrastructure agreed to divest a 49% stake in its power generation and distribution unit in Mumbai to Public Sector Pension Investment Board, which is a Canadian pension fund.

In December, Reliance Communications signed a non-binding agreement to divest its mobile phone towers unit to TPG Capital Management-led group. This month, Reliance Infrastructure sold its cement assets to Birla Corp for Rs480bn ($7bn).

Reliance Infrastructure’s road projects are believed to be valued at approximately Rs90bn ($1.3bn).

Last November, the company stated that owing to challenges in the infrastructure sector such as regulatory uncertainties, procedural delays and legal challenges, the company decided to divest its road assets.

The firms invested Rs88bn ($1.3bn) in 11 revenue generating road projects spread out in seven states. These are 100% owned by the company and cover 1,000km.

The firm had attracted interest from strategic and portfolio institutional investors in India and overseas for these two business. It intends to sell the complete portfolio of 11 road assets as one package.