Gamon has divested its stake in the project to a consortium of Brookfield and Core Infrastructure India Fund (CIIF) under the name BIF India Holdings Pte Ltd

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Gamon has divested its stake in the project to a consortium of Brookfield and Core Infrastructure India Fund (CIIF) under the name BIF India Holdings Pte Ltd. NHAI observed that the concessionaire was facing financial stress and was unable to meet its obligations under the concession agreement. The new consortium will bring in $100 million as equity investment. The harmonious substitution was possible due to the recent policy initiative of the government for stalled projects
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