Road operator Cube Highways entered into financial agreements for facilities worth Rs 3,500 crore for its Toll-operate-transfer (TOT) bundle, the company said in a statement on Tuesday.
“Cube Mobility Investments Pte (Cube Highways), part of the Cube Highways group, has entered into financing agreements, through its Indian special purpose vehicles formed for the TOT-3 bundle, with State Bank of India (SBI),” the company said in its statement. It added, the agreement is for availing the term loan facility of Rs 3,500 crore towards the TOT-Bundle 3 projects.
Cube Highways was awarded nine road stretches with 2,265 lane kilometers across various states in India last November, in the third Toll Operate Transfer (TOT) round by National Highways Authority of India (NHAI). Cube Highways emerged as the highest bidder at Rs 5,000 crore.
