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

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

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.

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 releaseImage: A section of the Ghaziabad-Aligarh Expressway.

Next Story
Infrastructure Energy

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Next Story
Infrastructure Energy

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

Next Story
Infrastructure Energy

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?