{"id":337699,"date":"2020-02-17T11:29:53","date_gmt":"2020-02-17T05:59:53","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=337699"},"modified":"2020-02-17T12:08:38","modified_gmt":"2020-02-17T06:38:38","slug":"singapore-firm-wins-bid-to-buy-indias-longest-road-tunnel","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/singapore-firm-wins-bid-to-buy-indias-longest-road-tunnel\/","title":{"rendered":"Singapore firm wins bid to buy India\u2019s longest road tunnel"},"content":{"rendered":"<p>Mumbai: Singapore-based infrastructure investment platform Cube Highways has won the bid to acquire India\u2019s longest road tunnel \u2014 the 9.2-km Chenani-Nashri project in Jammu &amp; Kashmir \u2014 for Rs 3,929 crore, multiple people aware of the matter said. The IL&amp;FS board has declared Cube as the highest bidder (H1), and invited lenders to vote for the sale through the e-voting process. <\/p>\n<p>The tunnel project has a debt of around Rs 5,454 crore and a sale of the asset will help bring down the overall debt position of the company. <\/p>\n<p>\u201cResolved that the bid value of Rs 3,929 crore, (subject to potential value adjustments, as stipulated in the draft of the share purchase agreement, a copy of which has been provided to the members of the committee of creditors of CNTL),<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: Singapore-based infrastructure investment platform Cube Highways has won the bid to acquire India\u2019s longest road tunnel \u2014 the 9.2-km Chenani-Nashri project in Jammu &amp; Kashmir \u2014 for Rs 3,929 crore, multiple people aware of the matter said. The IL&amp;FS board has declared Cube as the highest bidder (H1), and invited lenders to vote for the sale through the e-voting process. The tunnel project has a debt of around Rs 5,454 crore and a sale of the asset will help bring down the overall debt position of the company. \u201cResolved that the bid value of Rs 3,929 crore, (subject to [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,193,136],"tags":[],"class_list":["post-337699","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/337699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=337699"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/337699\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=337699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=337699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=337699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}