Cube Highways signs up with BRNL for transfer of NH-34 segment

02 Apr 2021 Editorial Team

Kolkata-based Bharat Road Network Limited (BRNL), a leading road build-operate-transfer (BOT) developer, along with its partners, has signed an agreement with Cube Highways, a portfolio company of I Squared Capital, for the complete transfer of ownership in an operating toll road project in Uttar Pradesh. BRNL currently holds 39% stake in this project.

The transaction is done at an enterprise value of up to Rs 1,600 crore.

The Share Purchase Agreement provides for the sale of the entire stake in Ghaziabad Aligarh Expressway Private Limited, the special purpose vehicle (SPV) engaged in the development, operation and maintenance of a 126 km toll road project from Ghaziabad to Aligarh on National Highway 34. The project has been granted a 24-year concession in 2011 for strengthening and widening the two-lane highway. Toll collection on this road began in June 2015.

BRNL is involved in the development, operation and maintenance of national and state highways, with a project portfolio of Rs 7,000 crores consisting of six operational BOT projects, covering 2,095 lane km across six states━Uttar Pradesh, Kerala, Haryana, Madhya Pradesh, Maharashtra, and Odisha.

Cube Highways and Infrastructure Pte Ltd is a Singapore-based company investing in road and highway projects, along with other select infrastructure sectors in India.

Written from a news release

Image: A section of the Ghaziabad-Aligarh Expressway.

Real Estate

01 Dec 2025

Serene, Gardencity to Develop Rs 3 Billion Senior Living Project in Bengaluru

Serene Communities, a leading senior living brand, has partnered with Gardencity Realty to develop a premium senior living community in Budigere, one of Bengaluru’s fastest-growing residential micro-markets. The project will span approximately 300,000 sq ft, with a Gross Development Value of about Rs 3 billion, and will add roughly 250 senior-friendly residences to the city’s growing retirement housing segment.The launch forms part of Serene Communities’ national expansion strategy. The company has 11 new projects under development with a planned investment of Rs 25 billion that will add..

Alliance City Developers Marks Major 2025 Milestones in Vile Parle

Alliance City Developers Realtors has announced significant project milestones and expansions in 2025, underscoring what the company terms a transformational year. The developer completed multiple residential projects and launched two premium developments in Vile Parle (East), one of Mumbai’s most sought-after neighbourhoods.During the year, Alliance Legacy in Matunga (East) received its Occupancy Certificate (OC), while Alliance Eternis in Borivali (West) and Alliance Vista in Vile Parle (East) were granted Completion Certificates (CC), marking final project delivery. Alliance Abhimanyu is ..

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..