+
RInfra plans to sell five road assets to Singapore’s Cube Highways
ROADS & HIGHWAYS

RInfra plans to sell five road assets to Singapore’s Cube Highways

Reliance Infrastructure (RInfra) is in talks with global investment players such as Cube Highways, Brookfield, Apollo Global, and Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ) for the sale of five road assets.

The five roads include DS Toll Road, NK Toll Road and SU Toll Road in Tamil Nadu, JR Toll Road in Rajasthan, and Pune-Satara highway in Maharashtra, according to the sources.

The five roads are expected to fetch about Rs 3,250 crore, which will support the company to lessen its consolidated debt of Rs 14,260 crore as of March 2021.

The 283 km toll road assets in Tamil Nadu and Rajasthan have a balance concession period of up to 12 years. Cube Highways has shown interest in these projects with a proposal of Rs 1,430 crore.

Sources told the media that the Pune-Satara highway is being discussed with Apollo Global Investment Partner, Brookfield, and CDPQ and is expected to obtain about Rs 1,800 crore.

While CDPQ and Brookfield refused to comment, an email to Apollo Global and a message to Cube Highways did not obtain any response.

The sale of DA Toll Road to Cube Highways and Infrastructure III for an enterprise worth above Rs 3,600 crore was completed by RInfra in January. At that time, the proceeds were used to reduce the total debt liabilities of Reliance Infra by about 20%.

The company aims to be debt-free by March 2022 as it is on a debt reduction drive. RInfra announced fundraising of Rs 550 crore from the promoter group and VSFI Holding, a subsidiary of Varde Investment Partners. The funds raised will be used for long-term resources to fund future growth and to lessen debt.

Image Source


Also read: KKR to acquire GIP's highway business

Also read: Cube Highways signs up with BRNL for transfer of NH-34 segment

Reliance Infrastructure (RInfra) is in talks with global investment players such as Cube Highways, Brookfield, Apollo Global, and Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ) for the sale of five road assets. The five roads include DS Toll Road, NK Toll Road and SU Toll Road in Tamil Nadu, JR Toll Road in Rajasthan, and Pune-Satara highway in Maharashtra, according to the sources. The five roads are expected to fetch about Rs 3,250 crore, which will support the company to lessen its consolidated debt of Rs 14,260 crore as of March 2021. The 283 km toll road assets in Tamil Nadu and Rajasthan have a balance concession period of up to 12 years. Cube Highways has shown interest in these projects with a proposal of Rs 1,430 crore. Sources told the media that the Pune-Satara highway is being discussed with Apollo Global Investment Partner, Brookfield, and CDPQ and is expected to obtain about Rs 1,800 crore. While CDPQ and Brookfield refused to comment, an email to Apollo Global and a message to Cube Highways did not obtain any response. The sale of DA Toll Road to Cube Highways and Infrastructure III for an enterprise worth above Rs 3,600 crore was completed by RInfra in January. At that time, the proceeds were used to reduce the total debt liabilities of Reliance Infra by about 20%. The company aims to be debt-free by March 2022 as it is on a debt reduction drive. RInfra announced fundraising of Rs 550 crore from the promoter group and VSFI Holding, a subsidiary of Varde Investment Partners. The funds raised will be used for long-term resources to fund future growth and to lessen debt. Image Source Also read: KKR to acquire GIP's highway business Also read: Cube Highways signs up with BRNL for transfer of NH-34 segment

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code