NIIF to acquire Ashoka Buildcon toll road company

07 Jun 2022 CW Team

National Investment and Infrastructure Fund (NIIF), India’s first infra-focused corpus, is in talks for the acquisition of a road project owned by Ashoka Buildcon and Macquarie India. The Madhya Pradesh property in the surrounding areas is valued at Rs 1,000 crore.

It is said that the talks are reaching the final stage on the transfer of ownership of the Jaora-Nayagaon Toll Road Company operating the 120 km Jaora-Nayagaon section, SH-31 (erstwhile NH-79). Ashoka subsidiary has a 74% share of the Jaora-Nayagaon Toll Road Company, and the remaining 26% is owned by Macquarie India.

As the talks are in a concluding stage the deal is expected to be signed in a month. The asset will be bought via Athaang Infrastructure. It is a road platform created by NIIF Master Fund.

Jaora-Nayagaon Toll Road was owned by a group of four developers - IFCI, SREI Group, PNC Infratech, and SPML Infra, in the form of a special purpose vehicle (SPV) for the development of the Jaora-Nayagaon section, on the basis of build, operate and transfer (BOT), toll basis.

Ashoka Concessions later bought a controlling stake and the management control of this project in 2015. However, IFCI sold a 26% stake to SBI Macquarie Infra.

Athaang has ownership of three strategic road assets, which include the Dichpally Tollway and Devanahalli Tollway.

In April, NIIF also took hold of the GVR Ashoka Chennai Outer Ring Road in Tamil Nadu from Ashoka Concessions for Rs 686 crore.

Image Source

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..