The enterprise value of the assets for this transaction is Rs 529.27 crore excluding claims receivable from National Highway Authority of India (NHAI) and other governmental instrumentalities, which would be passed through to the Company as and when realized, it added.
Cube Highways is a Singapore-based company investing in road and highway projects, along with other select infrastructure sectors in India.
The completion of the transaction is contingent upon fulfillment of certain customary regulatory and lender approvals and parties anticipate closing of the transaction within next 2- 3 months.
KWTPL operates a four-lane 53.5-kilometer toll road connecting Walayar with Vadakkancherry on National Highway (NH) 47. The project is a 20-year concession granted in 2013 for strengthening and widening the highway from its original two lanes. Tolling commenced in October 2015.
At 09:47 am, KNR Constructions
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