Highway Infrastructure Trust to Acquire ₹9,005cr 12 Road Projects
The Highway Infrastructure Trust (HIT) has finalized agreements with PNC Infratech Ltd and PNC Infra Holdings Ltd for the acquisition of 12 road projects valued at ₹9,005.07 crore. This strategic move enhances the nation's highway network, encompassing 11 Hybrid Annuity (HAM) concessions from NHAI and 1 toll road concession from the Uttar Pradesh State Highways Authority (UPSHA). Spanning Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka, the projects cover approximately 3,800 lane km. Out of the 12 projects, 10 are operational, and the remaining 2 are under construction, slated for acquisition post-commencement of operations. Neeraj Sanghi, CEO of Highway Concessions One, expressed enthusiasm for integrating these assets into their portfolio, emphasizing high-quality asset management and world-class ESG standards. Gaurav Chandna, Head of Strategic Finance at Highway Concessions One, highlighted the transaction's significance as one of the largest acquisitions in the highways sector.
📅Published on:
17 January 2024
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