Highway Infrastructure Trust's acquires PNC Infratech's 12 SPVs

20 Aug 2024 CW Team

The Competition Commission of India (CCI) has approved the acquisition of a 100% equity stake, management, and control in 12 special purpose vehicles (SPVs) of PNC Infratech Limited and PNC Infra Holdings by Highway Infrastructure Trust.

Highway Infrastructure Trust, an irrevocable trust established under the Indian Trusts Act, 1882, is registered with the Securities Exchange Board of India (SEBI) as an infrastructure investment trust. The trust's primary activities, as prescribed under the SEBI (Infrastructure Investment Trusts) Regulations, 2014, involve owning and operating roads and highways in India through its SPVs, which have been granted government concessions. Galaxy Investments II Pte. Limited sponsors the trust, while Highway Concessions One Private Limited (HC One) serves as the investment manager.

The PNC SPVs, created specifically for infrastructure projects, have entered into concession agreements with the National Highway Authority of India (NHAI) and the Uttar Pradesh State Highways Authority. These agreements involve the holding, development, operation, and maintenance of infrastructure projects under the Hybrid Annuity Model and Build-Operate-Transfer arrangements.

A detailed order from the CCI will be issued subsequently. (PIB.gov)

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..