NIIF buys out Jammu Udhampur Highway

04 Aug 2022 CW Team

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

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..