Singapore-based Cube Highways and Infrastructure, an active player in the highway space in India with over 8,500-km projects portfolio, hasn’t yet made the requisite upfront payment of Rs 5,011 crore and taken possession of the nine toll-operate-transfer (TOT) stretches, which it had won under auctions held in last November. The due date for making the payment was mid-April.
Industry executives take Cube’s failure to stick to the deadline as sign that even the foreign road-sector players with strong investor backing are facing difficulties in mobilising funds at this juncture.
