Key Points
MUMBAI: India's sovereign-backed National Investment and Infrastructure Fund (NIIF) is looking to sell its maiden portfolio of five road projects, worth around Rs 10,000 crore ($1.2 billion) on an enterprise value basis, sources aware of the development told ET...
Formal conversations are yet to begin, added the sources mentioned above on the condition of anonymity as these discussions are still in private domain..
The 16.3-kilometre Qazigund Banihal Expressway was acquired from Navayuga Engineering in July 2022 for $380 million (Rs 3,163 crore)..
Meanwhile, the 64.5-kilometre Jammu Udhampur Highway was acquired by Athaang in August 2022 from Shapoorji Pallonji Group for $290 million (Rs 2,414 crore)...
The fund operates the 73-kilometre Kashi Tollway in Uttar Pradesh that connects Prayagraj and Varanasi, which it won under the toll-operate-transfer (TOT) monetisation programme of NHAI for a value of Rs 3,144 crore in January 2023...
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