YIELD acquires twin annuity assets in road sector

Edelweiss Infrastructure Yield Plus (YIELD+)
Edelweiss Infrastructure Yield Plus (YIELD+), an AIF managed by Edelweiss Alternative Asset Advisors Ltd. (EAAA), along with its portfolio company Sekura Roads Limited (SRL), has announced the acquisition of two annuity road assets - Navayuga Dhola Infra Projects Limited (in Assam) and Navayuga Dibang Infra Projects Private Limited (in Arunachal Pradesh). These assets have been acquired from Navayuga Road Projects Private Limited (NRPPL) - a subsidiary of Navayuga Engineering Company Limited (NECL), making this one of the first road infra deals during the lockdown.

With an AuM of over Rs. 28,000 crores, EAAA focuses on providing long-term growth capital to corporates. “Acquiring operating infrastructure assets provides impetus to the revival of the sector by helping construction companies to release capital and de-lever, enabling them to commence new projects which contribute to nation building. This is becoming the core model to meet India’s infrastructure capital requirement," said Hemant Daga, Deputy CEO, Edelweiss Global Investment Advisory

“We are happy to see the acquisition of these high-quality road assets to the Sekura Roads portfolio. This is in line with our strategy of investing in Infrastructure assets which can deliver predictable long-term yield to our investors. We now have a healthy portfolio of operating transmission and operating annuity road assets," said Subahoo Chordia, Head of Edelweiss Infrastructure Yield Plus. Confirming the development, Sachin Bhansali, CFO, Navayuga Group, said, “We are looking to de-leverage our balance sheet and asset monetization is a critical component. This transaction will significantly ease the debt position of the Group and help free up cash.”

With the government’s thrust on boosting economic activity in North Eastern India, the Dhola and Dibang roads are of strategic importance because they ensure seamless all-weather connectivity between North East and the rest of India. The Dhola bridge - the country’s longest river bridge - was inaugurated by the Prime Minister in 2018; it has opened new doors for economic development in the states of Assam and Arunachal Pradesh.

NHIDCL floats tenders for ₹277-cr highway in Sikkim

The National Highways & Infrastructure Development Corporation (NHIDCL) has floated tenders for a two-lane road project in Sikkim in the northeastern region. The scope of work includes the construction and upgrading Read More ...

Kolkata metro invites bids for ₹103-cr metro car depot

The Kolkata metro floated tenders for the construction of ₹103.1 crore New Garia Metro car depot, which will enable the crucial work as the completion of the depot is key to the truncated New Garia-Ruby Park (Hemanta Mukherjee) Read More ...

Komatsu Excavators works wonder for BRO's project

Around 20 units of the Komatsu PC210-8M0 Hydraulic Excavators worked arduously at over 17,000 ft high altitude for a new 80 km mountainous road to Kailash Manasarovar constructed by the Border Roads Organization (BRO) Read More ...

MoRTH disburses ₹18,700-cr to contractors in two months

To offset the adverse impact of Covid-19 on the road infra developers reeling under severe cash crunch, the ministry of road transport and highways (MoRTH) and the NHAI have adopted faster payment mechanisms and disbursed Read More ...

AIIB extending $3-bn financing for infra projects

Beijing-based multilateral funding agency AIIB is contemplating to provide loans worth USD 3 billion for various big-ticket infrastructure projects, including the Delhi and Meerut Rapid Rail, Mumbai Metro Rail and Read More ...

DFCCIL connecting Haldia Port with Ludhiana

A K Sachan, MD, Dedicated Freight Corridor Corporation Indian Ltd (DFCCIL) informed that being one of the most prestigious infrastructure projects in the country, the Dedicated Freight Corridor is a high priority area Read More ...

UP fixes funds for ₹36,000-cr Ganga Expressway

The state government in UP has planned to generate ₹2,900 crore from the Housing and Urban Development Corporation (Hudco) for the construction of 628-km Ganga Expressway project involving an investment of ₹36,000 crore Read More ...

Jewar Airport gets ₹5,000-cr infra booster

The Yamuna Expressway Industrial Development Authority (YEIDA) has signed an agreement to raise ₹5000 crore in three years for the development of residential and commercial projects in and around the upcoming Jewar Read More ...

MRIDCL unveils six lanes RoB in Reay Road

The Maharashtra Rail Infrastructure Development Corporation Limited (MRIDCL) has decided to build a six-lane road-over-bridge (RoB) between Reay Road and Dockyard railway stations. The bridge will have a width of 12 metres Read More ...

MoRTH approves ₹4,125-cr projects including a tunnel in U'khand

In a bid to decongest main cities in Uttarakhand, the Union transport ministry gave in-principle approval for the construction of a 2.74-km tunnel to be built in Mussoorie at a cost of ₹450 crore and other road projects Read More ...

PNC Infratech wins ₹1547-cr highway contracts

PNC Infratech has secured two highway contracts, parts of Delhi-Vadodara Expressway, involving an investment of ₹1,547.80 crore from NHAI. The projects have been secured on EPC basis under the Bharatmala Pariyojna and the Read More ...

NHIDCL floats tenders for ₹1,251-cr Bridge

The National Highways and Infrastructure Development Corporation (NHIDCL) has floated tenders for the widening of the NH-40 starting from Shillong to Tamabil linking Meghalaya with Bangladesh. Meghalaya Deputy CM, Prestone Read More ...

Decks cleared for ₹3,000-cr metro line in Kolkata

Decks have been cleared for the construction of Joka-Esplanade Metro line in Kolkata with the Ministry of Defence allowing the construction work in the defence land area. Defence secretary Ajay Kumar informed that the Metro Read More ...

Maligaon in Assam gets ₹420-cr four-lane flyover

In order to decongest the Maligaon area in Guwahati city, the transport ministry is set to start the construction work on the four-lane flyover involving an investment of ₹420 crore. The city gets congested during Read More ...

Quality Buildcon is lowest bidder for Patna Metro contract

The Delhi based Quality Buildcon has emerged as the lowest bidder (L1) among the seven other bidders for the construction of the New ISBT Depot of Patna Metro Rail project in the financial bids by DMRC. The scope of work Read More ...

Telangana takes up ₹523-cr elevated road corridor

Municipal Administration and Urban Development (MAUD) Minister KT Rama Rao laid the foundation stone for an elevated corridor worth ₹523.92 crore in Hyderabad. It will provide relief to traffic at IS Sadan junction and Read More ...
NBM&CW

New Building Material & Construction World

New Building Material & Construction World
MGS Architecture

Modern Green Structures & Architecture

Modern Green Structures & Architecture
L&ST

Lifting & Specialized Transport

Lifting & Specialized Transport
II&TW

Indian Infrastructure & Tenders Week

Indian Infrastructure & Tenders Week