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

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?