Reliance Infrastructure Ltd Thursday said it will sell its entire stake in Delhi-Agra Toll Roadway to Singapore-based Cube Highways for Rs 3,600 crore, following which the Anil Ambani led company’s debt will be reduced by 25 per cent to less than Rs 5,000 crore. Reliance Infrastructure (RInfra) has entered into a pact with Cube Highways in this regard.
Cube Highways and Infrastructure III Pte Ltd is a Singapore-based company formed by global infrastructure fund – I Squared Capital and a wholly-owned subsidiary of the Abu Dhabi Investment Authority.
The transaction is in line with Reliance Infrastructure’s strategic plan of monetising non-core business and focus on major growth areas like engineering & construction (E&C) business. Read More
Latest posts by Financial Express (see all)
- Forget Rajdhani, Shatabdi and Duronto! These new premium Indian Railways trains are game-changers - March 26, 2019
- Boon for metro passengers across India! Last mile connectivity to get government’s attention - March 26, 2019
- Delhi’s next big step towards electric mobility: 131 new charging stations and where to find them - March 26, 2019