HCC Group, Cube inks pact for Baharampore-Farakka Highway sale

04 Feb 2022 CW Team

The HCC Group announced on Wednesday that it had reached an agreement with Cube Highways to sell Baharampore-Farakka Highways Ltd (BFHL) for Rs 1,279 crore.

It is a 101 km road in West Bengal that connects Kolkata and the port of Haldia to the state's northern region and North-East India as part of National Highway-12.

The road project is owned by HCC Concessions Ltd (HCON), a subsidiary of HCC Ltd, and the transaction with Cube Highways is structured in such a way that the group will receive up to Rs 900 crore in total liquidity.HCC Concessions Ltd immediate parent is HCC Infra.

HCC said that HCC Group has reached an agreement with Cube Highways and Infrastructure V Pte Ltd for a 100% sale of BFHL for Rs 1,279 crore, implying a Rs 600 crore equity valuation. In addition to the equity value, a Rs 200 crore earnout payment is due in May 2024 if revenue targets are met.

For the duration of the concession, HCON will be entitled to a material revenue share.

The company said it will securitize a portion of these future BFHL receivables with a loan of up to Rs 300 crore, providing the group with total liquidity of up to Rs 900 crore.

BFHL has a 19-year balance concession period. Closing adjustments, customary due diligence, and approvals, including from the National Highways Authority of India (NHAI), are all contingent on the transaction.

HCON formed Baharampore-Farakka Highways in 2010 as a special purpose vehicle to design, build, finance, operate, and transfer (DBFOT) tolls on the four-lane highway between Baharampore and Farakka on NH-12 (earlier NH-34).

The company was granted a 25-year (extendable to 30-year) concession by NHAI, and BFHL began toll operations on May 14, 2014.

HCC Concessions Ltd has developed and operated NHAI concessions worth over Rs 7000 crore.

HCC Ltd, the holding company, had defaulted on its debt. It owes a total of Rs 9,727 crore in consolidated debt, which is currently being restructured.

Image Source

Also read: HCC closes sale of Farakka Raiganj Highways

The HCC Group announced on Wednesday that it had reached an agreement with Cube Highways to sell Baharampore-Farakka Highways Ltd (BFHL) for Rs 1,279 crore. It is a 101 km road in West Bengal that connects Kolkata and the port of Haldia to the state's northern region and North-East India as part of National Highway-12. The road project is owned by HCC Concessions Ltd (HCON), a subsidiary of HCC Ltd, and the transaction with Cube Highways is structured in such a way that the group will receive up to Rs 900 crore in total liquidity.HCC Concessions Ltd immediate parent is HCC Infra. HCC said that HCC Group has reached an agreement with Cube Highways and Infrastructure V Pte Ltd for a 100% sale of BFHL for Rs 1,279 crore, implying a Rs 600 crore equity valuation. In addition to the equity value, a Rs 200 crore earnout payment is due in May 2024 if revenue targets are met. For the duration of the concession, HCON will be entitled to a material revenue share. The company said it will securitize a portion of these future BFHL receivables with a loan of up to Rs 300 crore, providing the group with total liquidity of up to Rs 900 crore. BFHL has a 19-year balance concession period. Closing adjustments, customary due diligence, and approvals, including from the National Highways Authority of India (NHAI), are all contingent on the transaction. HCON formed Baharampore-Farakka Highways in 2010 as a special purpose vehicle to design, build, finance, operate, and transfer (DBFOT) tolls on the four-lane highway between Baharampore and Farakka on NH-12 (earlier NH-34). The company was granted a 25-year (extendable to 30-year) concession by NHAI, and BFHL began toll operations on May 14, 2014. HCC Concessions Ltd has developed and operated NHAI concessions worth over Rs 7000 crore. HCC Ltd, the holding company, had defaulted on its debt. It owes a total of Rs 9,727 crore in consolidated debt, which is currently being restructured. Image Source Also read: HCC closes sale of Farakka Raiganj Highways

Infrastructure Urban

11 Mar 2026

India Expands Semiconductor Training To 500 Institutions

Under the Chips to Startups programme of the India Semiconductor Mission, the Union minister responsible for Railways, Information and Broadcasting, and Electronics and IT reported notable progress in talent development. He indicated that over the past four years substantial steps have been taken towards a 10-year target of training 85,000 engineers in semiconductor design. World-class EDA tools have been deployed in 315 academic institutions across the country to provide students with practical exposure to chip design. These EDA tools are supported by leading global firms and are accessible t..

Infrastructure Urban

11 Mar 2026

Delhi Institutions Support India Semiconductor Mission

The Government of India has prioritised talent development through training, upskilling and workforce development under the Chips to Startups initiative of the India Semiconductor Mission, with officials noting progress in four years towards a 10-year target of training 85,000 engineers in semiconductor design. Electronic design automation tools provided by Synopsys, Cadence, Siemens, Renesas, Ansys and AMD have been deployed in 315 academic institutions, enabling students to gain practical chip design experience. Chips have been fabricated and tested at the Semiconductor Laboratory, Mohali, a..

Infrastructure Urban

11 Mar 2026

NHA Announces Winners Of NHCX Hackathon At IIT Hyderabad

The National Health Authority (NHA) has concluded the NHCX Hackathon under the Ayushman Bharat Digital Mission (ABDM) to stimulate innovation around the National Health Claims Exchange (NHCX). The winning teams presented their solutions at the NHCX Innovation Meet held at IIT Hyderabad during a two-day event in March 2026 that also served as the hackathon grand finale. The hackathon itself ran from 22 to 28 February 2026 and aimed to accelerate paperless, transparent claims processing across India. The event was organised with a range of ecosystem partners, including the Insurance Regulatory a..