NEW DELHI: Reliance Infrastructure (RInfra) has got in-principle nod from the National Highways Authority of India (NHAI) for sale of Delhi-Agra toll road to Cube Highways and Infrastructure for Rs 3,600 crore, an RInfra official said on Thursday.
RInfra will utilise the proceeds to reduce debt.
“Reliance Infrastructure has received the in-principle approval for Harmonious Substitution in the Delhi-Agra (DA) toll road project on January 7 from the National Highways Authority of India (NHAI)… Reliance Infrastructure will receive an enterprise value of Rs 3,600 crore including equity of up to Rs 1,700 crore,” the RInfra official said.
This approval paves the way to close the sale of the 180-km 6-lane Delhi-Agra toll road to Cube Highways and Infrastructure III Pte Ltd, which is owned by a Singapore-based Global Infrastructure Fund, I Squared Capital, and a wholly-owned subsidiary of the Abu Dhabi Investment Authority, the official said.
