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)

Infrastructure Urban

03 Apr 2026

Centre Disburses Over Rs 24,610 mn in XV Finance Commission Grants

The Union Government has released XV Finance Commission tied grants during the financial year 2025–26 to rural local bodies in Chhattisgarh, Gujarat, Madhya Pradesh, Punjab and Sikkim and has released withheld portions of tied and untied grants to Himachal Pradesh, Odisha and Tripura. The total disbursal exceeded Rs 24,610 mn, with figures expressed in million (mn) thereafter. The releases cover allocations pertaining to different financial years and aim to strengthen rural local governance. State-wise disbursements included Rs 3,324.6 mn for Punjab, Rs 9,432.7 mn for Madhya Pradesh, Rs 3,47..

Centre Releases Over Rs 15 bn as XV FC Grants to Rural Bodies

The Union Government has released over Rs 15 bn in grants recommended by the Fifteenth Finance Commission (XV FC) to strengthen Panchayati Raj Institutions (PRIs) and Rural Local Bodies (RLBs) in six states. The funds comprise tied and untied grants disbursed in FY 2025–26. Telangana received Rs 2.48 bn as the first instalment of untied grants for FY 2025–26, benefitting 12600 Gram Panchayats (GPs). Uttarakhand received Rs 913.1 mn as the second instalment and an additional Rs 18.4 mn of a withheld first instalment was released to a further 216 GPs. Mizoram is included among beneficiary st..

Government Assures Fuel Supplies And Seafarer Safety Amid West Asia Developments

The Government of India has stepped up coordinated measures to maintain stability in critical sectors as developments in West Asia continue to unfold. It has prioritised uninterrupted energy supplies, safeguarded maritime operations and extended consular assistance to nationals. Central authorities are working with State and Union territory administrations to ensure timely information dissemination and operational continuity. Refineries are reported to be operating at high capacity with adequate inventories of petrol and diesel, and domestic LPG production has been increased to support consump..