MUMBAI: Reliance Infrastructure Ltd (RInfra) is in discussions with Singapore based-Cube Highways for the sale of its four road assets for an enterprise value of Rs 1,430 crore, sources said.
RInfra will use the proceeds from the sale to reduce debt. Cube Highways is promoted by I Squared Capital, (a wholly-owned arm of the Abu Dhabi Investment Authority) , International Finance Corporation and a consortium of Japanese investors, including Mitsubishi Corporation and Japan Overseas Infrastructure Investment Corporation. A senior company official said that Cube Highways has shown interest in Reliance Infra's four road assets -- DS Toll Road Pvt Ltd, NK Toll Road Pvt Ltd and SU Toll Road Pvt Ltd located in Tamil Nadu, and JR Toll Road Pvt Ltd located in Rajasthan.
With a total length of 283 kilometres, the four road assets are under operation with the balance available concession period of up to 12 years. Cube Highways has pegged the enterprise value for the four projects at Rs 1,430 crore and the proceeds from the deal would help in reducing RInfra's debt, the sources said.
Delhi’s Digital health card likely to roll out by March 2022: CM Kejriwal
India's first tunnel aquarium opened here, know it's speciality
KRK crosses all limits, says 'Govt can't even get Kangana's Twitter..'