IL&FS Receives Approval for Sale of J&K Firms to Singapore's Cube

05 Mar 2024 CW Team

IL&FS (Infrastructure Leasing & Financial Services) has secured approval for the sale of its Jammu and Kashmir-based firms to Singapore's Cube. This development marks a significant step in IL&FS's ongoing efforts to divest assets and streamline its operations, while also fostering international collaboration in the realm of infrastructure development.

The nod for the sale signifies the positive reception of IL&FS's strategic divestment plan, which aims to optimise its portfolio and strengthen financial stability. The involvement of Singapore's Cube reflects cross-border interest in contributing to the development and growth of infrastructure projects in the Jammu and Kashmir region.

IL&FS, a key player in the infrastructure sector, has been actively working towards resolving its financial challenges and revitalising its operations. The approval for the sale of J&K firms aligns with the company's commitment to restructuring and creating a more sustainable and efficient business model.

Singapore's Cube emerges as a noteworthy partner in this transaction, indicating international confidence in the potential of infrastructure development in the Jammu and Kashmir region. The collaboration is anticipated to bring in expertise, investment, and innovative approaches, contributing to the overall progress of the infrastructure projects under consideration.

IL&FS's successful progression in the sale of J&K firms to Cube exemplifies the positive outcomes of strategic divestment, paving the way for renewed focus and efficiency in the infrastructure development landscape.

Infrastructure Transport

07 Oct 2025

Atlantaa Inks Rs 24.9 Billion Deal For Maharashtra Expressway

Atlantaa Limited (formerly Altanta Limited) announced on 30 September that it has entered into an agreement with IRCON International Limited for the construction of the Bhandara–Gadchiroli Access Controlled Expressway in Maharashtra.The project, awarded under the Engineering, Procurement and Construction (EPC) mode, involves Package BG-03, covering the stretch from km 34+750 at Sarandi Bk in Lakhandur, Bhandara district, to km 69+536 at Kinhi in Bramhapuri, Chandrapur district, spanning a total length of 34.786 kilometres.The sub-contract is valued at approximately Rs 24.9 billion, excluding..

Cabinet Clears Rs 69.6 Billion NH Project Through Kaziranga

The Union Cabinet has approved the four-laning of the Kaliabor–Numaligarh section of National Highway 715 in Assam, a key infrastructure project designed to prevent man-animal conflicts and enhance road safety through the Kaziranga National Park.Announcing the decision, Railways Minister Ashwini Vaishnaw said the project spans 86 kilometres and involves a 34-kilometre elevated viaduct to ensure safe passage for wildlife. “The fifth major decision of the Cabinet today is the four-laning of the Kaliabor–Numaligarh section of NH-715 (86 km, Rs 69.6 billion). It includes a 34 km elevated via..

Rajkot Emerges As Model Smart And Sustainable City

Rajkot is rapidly evolving into a smart, safe, and sustainable city under the vision of Prime Minister Narendra Modi and the proactive efforts of the Gujarat government. Combining modern infrastructure, technology-driven systems, and citizen-focused projects, the city is enhancing both the quality of life and urban resilience for its residents.At the heart of Rajkot’s transformation is the Integrated Command and Control Centre (ICCC), which monitors live CCTV feeds from across the city 24 hours a day. The advanced surveillance system, equipped with 1,000 cameras installed at key locations in..