NIIF buys out Jammu Udhampur Highway
ROADS & HIGHWAYS

NIIF buys out Jammu Udhampur Highway

On August 2, the National Investment and Infrastructure Fund (NIIF) paid $290 million for a 100 per cent equity investment in the SP Jammu Udhampur Highway owned by the Shapoorji Pallonji Group through the NIIF Master Fund.

The project was developed under a Build-Operate-Transfer (Annuity) basis from the National Highways Authority of India (NHAI). The NHAI makes regular, semi-annual payments to the project, delivering consistent and dependable cash flows.

The 64.5 km long, four-lane Jammu Udhampur Highway, which has a 1.4 km twin-tube tunnel segment, improves accessibility to the Vaishno Devi temple.

Afcons Infrastructure, a division of SP Group, took on the project's sophisticated engineering construction in difficult steep terrain amid adverse weather circumstances.

With the addition of four assets, the fund's road portfolio now has a total annual revenue rate of more than $170 million, according to a statement from NIIF

On August 2, the National Investment and Infrastructure Fund (NIIF) paid $290 million for a 100 per cent equity investment in the SP Jammu Udhampur Highway owned by the Shapoorji Pallonji Group through the NIIF Master Fund. The project was developed under a Build-Operate-Transfer (Annuity) basis from the National Highways Authority of India (NHAI). The NHAI makes regular, semi-annual payments to the project, delivering consistent and dependable cash flows. The 64.5 km long, four-lane Jammu Udhampur Highway, which has a 1.4 km twin-tube tunnel segment, improves accessibility to the Vaishno Devi temple. Afcons Infrastructure, a division of SP Group, took on the project's sophisticated engineering construction in difficult steep terrain amid adverse weather circumstances. With the addition of four assets, the fund's road portfolio now has a total annual revenue rate of more than $170 million, according to a statement from NIIF

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?