Adani, Reliance group in race for Mumbai-Pune Expressway
MUMBAI: Adani Group and Anil Ambani’s Reliance Group are competing with a consortium of IRB InfrastructureNSE 5.02 % and Government of Singapore Investment Corp (GIC) for toll operation rights on Mumbai-Pune Expressway, arguably the country’s busiest stretch.
Cube Highways and Infrastructure, a road platform backed by I Squared Capital and a few other private equity firms, is also in the fray, according to people in the know.
The Maharashtra State Road Development Corp. (MSRDC) and National Highways Authority of India (NHAI) are expecting at least Rs 8000 crore from sale of rights, they said.
