Cube Highways to buy Delhi-Agra highway from RInfra

Mumbai: Cube Highways and Infrastructure, the Indian roads and highways platform of global infrastructure fund I Squared Capital, on Thursday said that it has agreed to acquire DA Toll Road Pvt. Ltd, which operates a toll road in the states of Haryana and Uttar Pradesh, from Reliance Infrastructure Ltd. The enterprise value of the transaction […]

NHPC may bid for road construction contracts

New Delhi: In what will add to the competition in the road-construction space, state run NHPC Ltd. is exploring to bid for road projects, said a top company executive. This development comes in the backdrop of a revival of the highway sector and will pit the public sector unit (PSU) against private road sector developers […]

NCLAT asks IL&FS Engineering and Construction to extend bank guarantee to NHAI

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) Tuesday permitted the debt ridden IL&FS and its group firm IL&FS Engineering and Construction Company to extend a bank guarantee of ₹60.29 crore issued to state-run National Highways Authority of India (NHAI). A two-member bench headed by Chairman Justice S J Mukhopadhaya said it was not […]

NHAI cancels second auction of toll roads

MUMBAI: The National Highways Authority of India (NHAI) has decided to cancel the second auction of toll roads after the bids came in far below its expectations, a person aware of the development said. Cube Highways, the highest bidder in the second round of toll-operate-transfer (TOT) auctions, had placed a bid of ₹4,612 crore for […]