HICL acquires stake in N17/N18 road concession
HICL infrastructure company has acquired further 40% stake in N17/N18 road concession in Tuam, Ireland, now holding half of the stake in the project. The project is a 28-year availability road concession to design, finance, construct and maintain a new 57km dual carriageway section of the N17/N18 between Gort and Tuam in County Galway on the west coast of Ireland for Transport Infrastructure Ireland.
HICL acquired 10 % stake in May 2014 and agreed to acquire further stake in future. InfraRed Capital Partners has advised HICL in this transaction which involves a consideration of €23 million (US$ 26.02 million). Construction works for the project finalised in December 2017.
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