Race for IVRCL-backed road project includes Adani arm and others `

12 Sep 2022 CW Team

Adani Road Transport, Silver Point Capital, Cube Highways, and Kotak Investments Advisors are vying for the special purpose vehicle (SPV) promoted by IVRCL that owns the IVRCL Chengapalli Tollways.

The bankruptcy court acknowledged the tollway's insolvency in April, and now insolvency proceedings are underway.

The other two applicants to submit expressions of interest were Global Infrastructure Partners (GIP) India and Highways Infrastructure Trust (HIT).

Global investment fund KKR developed the road infrastructure investment trust HIT, and the global infrastructure fund GIP. SPCL Luxembourg Advisors, a Silver Point affiliate, has made an expression of interest.

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