HCC Concessions sells Annuity Road Project
ROADS & HIGHWAYS

HCC Concessions sells Annuity Road Project

HCC Concessions Ltd has sold Nirmal BOT Ltd, its annuity project in Andhra Pradesh to Highway Concession One Pvt Ltd, an entity majorly held by IDFC Alternatives at Rs 64 crore. Highway Concessions One will acquire 74 per cent equity stake upfront, while the balance 26 per cent shall be acquired upon receipt of an approval from NHAI. The 30 km long Nirmal, which connects Kadtal to Armur on NH-7 in Telangana has also received an arbitration award in its favour for Rs 16.67 crore, which shall be payable to HCC, upon receipt.

HCC Concessions Ltd has sold Nirmal BOT Ltd, its annuity project in Andhra Pradesh to Highway Concession One Pvt Ltd, an entity majorly held by IDFC Alternatives at Rs 64 crore. Highway Concessions One will acquire 74 per cent equity stake upfront, while the balance 26 per cent shall be acquired upon receipt of an approval from NHAI. The 30 km long Nirmal, which connects Kadtal to Armur on NH-7 in Telangana has also received an arbitration award in its favour for Rs 16.67 crore, which shall be payable to HCC, upon receipt.

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