Uniquest Infra Ventures acquires second road project in India
Hyderabad-based SEW Infrastructure Ltd last week said the company together with Navayuga Engineering Co. Ltd has signed a definitive agreement with Uniquest Infra Ventures Pvt. Ltd to sell a significant majority stake in SEW Navayuga Barwani Tollways Pvt. Ltd (SNBTPL).
SNBTPL is special purpose vehicle in which SEW holds 74% stake, while the rest is held by Navayuga Engineering. SNBTPL is operating the Khalghat to Madhya Pradesh/Maharashtra border section on NH-3, under a concession agreement signed with the National Highways Authority of India (NHAI) for period of 18 years. The toll project commenced commercial operations in April 2011.
The Rs.7,900 million (US$126 million) build operate and transfer (BOT) project included 83km of four-lane highway development and a 768-metre-long major bridge across the river Narmada.
According to local sources, SEW Infrastructure has been struggling with problems of execution and high interest costs and the company is trying to reduce debt through sale of assets.Uniquest Infra Ventures is a joint venture of PLUS Expressways International Berhad (PEIB), a wholly-owned subsidiary of UEM Group Berhad and IDFC Limited.
This would be the second venture of Uniquest in the country after acquiring Jetpur Somnath Tollways Pvt. Ltd, which is implementing a 124km BOT project on NH-8D connecting Jetpur and Somnath in Gujarat.
Country news
-
-
December 18, 2013
IRB Infrastructure preferred bidder for Solapur Yedeshi toll road
IRB Infrastructure Developers Ltd has informed the Bombay Stock Exchange (BSE) that the company has emerged as a preferred bidder for the project of four laning of the Solapur-Yedeshi section of National Highway NH-211 from km 0.000 to km 100.000 in the state of Maharashtra to be executed as BOT (Toll) on Design, Build, Finance, Operate and Transfer (DBFOT) pattern under the National Highways Development Project (NHDP) Phase IV. Read more -
December 19, 2013
Essar Ports to develop three iron ore berths at Visakhapatnam Port
Essar Ports Ltd., has entered into a concessional agreement with Visakhapatnam Port Trust for the development and operation of three iron ore berths at Visakhapatnam Port. Read more -
December 20, 2013
GVK Infrastructure inaugurates Bangalore airport new terminal
Bangalore International Airport Limited (BIAL), a company controlled by Indian infrastructure developer GVK Infrastructure, held a celebration at the Bangalore airport to announce its name change from Bengaluru International Airport to Kempegowda International Airport Bengaluru and to inaugurate its new Terminal. Read more -
December 24, 2013
Adani Ports completes construction for coal import terminal concession
Adani Ports & Special Economic Zone Ltd, part of Adani Group today said it has completed the Rs400 crore (US$65 million) coal import terminal at Visakhapatnam port, eight months ahead of schedule. Read more -
January 02, 2014
IRB Infrastructure reaches financial close in road PPP project
IRB Infrastructure Developers announced on December 26th, 2013, that it has achieved financial closure of Rs 14,060 million (US$227.5 million) for the Four Laning of Goa/Karnataka Border to Kundapur section of NH-17 from Km 93.700 to Km 283.300 in the State of Karnataka under NHDP phase IV on Design, Build, Finance, Operate and Transfer (Toll) Basis. . Read more
