Cube Highways & Infrastructure agrees to acquire 39% stakes in Ghaziabad-Aligarh Expressway
Cube Highways & Infrastructure Pte. Ltd has agreed to acquire a 39% stakes in Ghaziabad-Aligarh Expressway Pvt. Ltd, an associate of Bharat Road Network Ltd (BRNL).
The expressway is a four-lane 126.3-km long highway project. It has started charging toll in June 2015 and has another 16 years to generate toll.
BRNL has invested about INR1.99 billion (US$28.52 million) crore into the project. The expressway project total investment is around INR19.29 billion (US$276.49 million).
Cube Highways & Infrastructure is a joint venture of infrastructure-focused private equity firm I Squared Capital and the World Bank’s International Finance Corporation, a consortium of Japanese investors including Mitsubishi Corporation, Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development, East Nippon Expressway Company Ltd and the Japan Expressway Company International Ltd.
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