Adani Enterprises cancels Rs 30 bn Macquarie road project deal

05 Jun 2023 CW Team

The Adani group announced the termination of an agreement between Adani Roads, a subsidiary of Adani Enterprises, and Macquarie Asia Infrastructure Fund (MAIF) to acquire the road portfolio for Rs 31.10 billion. Adani Enterprises had previously disclosed in August 2022 its plan to acquire a 100% stake in Swarna Tollway (STPL) and a 56.8% stake in Gujarat Road and Infrastructure Company.

The purchaser decided to terminate the share purchase agreement due to the seller's failure to meet the closing conditions within the agreed timeline under the share purchase agreement. The purchaser and the company issued notices to the sellers regarding this termination. STPL operates two toll road stretches in Andhra Pradesh, namely the 110-km stretch from Tada to Nellore on National Highway - 16, which connects important ports such as Chennai, Krishnapatnam, and Nandigama, and the 48-km stretch from Nandigama to Ibrahimpatnam to Vijayawada on NH-65, which connects key southern metro cities and provides feeder traffic to NH16.

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

GROHE Showcases Water-Led Design At Milan

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Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..