Fund National Investment and Infrastructure Fund (NiIF) and Cube Highways Trust (Cube Invit), which are managed by Cube Highways Fund Advisors PVT. LTD, announced on Thursday a successful transfer of two operating annual road projects from NiIF to Cube to invite business value £4 185 crore.
Two assets converted, Quazigund Expressway PVT. LTD (QB) and Athaang Jammu Udhampur Highway PVT. LTD (JU), spanning approximately 80 km and is located in Jammu and Kashmir.
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QB is one of the longest two -way tunnels in India, while JU is a necessary connection between Jammu and Srinagar. These assets have a residual concession lifetime for more than six years and are supported by fixed semi -annual annuity payments from India National Highways Authority in India (Nhai), which provides stable and predictable cash flows that are isolated from traffic risks.
The total corporate value (including cash) of both assets was reported to £4 185 Crore, subject to all closure modifications, as stated in the agreement on the purchase of shares (SPA), Cube Highways Trust said in a statement.
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“We are pleased to cooperate with NIIF on this important transaction. Today’s acquisition will contribute to the high quality, Pan-India port £2.3 per unit per year, on average, on average over the next five years, ”said Vinay C. Sekar, CEO (CEO) of CUBE Invit.
Pankaj Vasani, CFO CFO Group CFO (CFO), said: “Strategic adding these two completed and income generating annuity assets optimally complements our existing asset portfolio.
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Giri, a control partner, master fund, Niif, said this transaction reflects NiIF’s ability to subscribe to complex transactions and obtain large infrastructure assets, derit them with a comprehensive plan, improve credit profile and create value. “These assets strongly reflect the basic competences of Athaang, platforms for completely owned roads in NiIF, while driving high quality infrastructure assets with operating excellence through the best systems and processes in the classroom.
Cube Highways Trust is an irrevocable trust established under the Indian Trust Act in 1882 and registered with the Indian Council for Securities (SEBI) as the trust of investment infrastructure. It is supported by a diversified investor base, including Squared Capital, a completely owned subsidiary of Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corp. and Abu Dhabi’s sovereign investor Mubadal Investment Co.
Cube Highways Trust deals with the implementation of the model of the public and private sector partnership in the country’s highway industry to operate and manage motorway projects in cooperation with trade unions and state governments.
(Tagstotranslate) National Investment and Infrastructure Fund (T) Niif (T) Cube Highways Trust (T) Cube Invit (T) Cube Highways Fund Advisors (T)
