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A number of individuals informed ET that talks are reaching the concluding stage on possession switch of the Jaora-Nayagaon Toll Highway Firm that operates the 120-km Jaora-Nayagaon part of SH-31 (erstwhile NH-79). An Ashoka subsidiary owns 74% of the Jaora-Nayagaon Toll Highway Firm, whereas Macquarie India owns the remaining 26%.
“The talks are in ultimate phases and we count on the deal to be signed in a month,” mentioned one of many sources. The asset will likely be acquired by Athaang Infrastructure – the street platform incubated by NIIF Grasp Fund.
Mails despatched to NIIF and Ashoka Buildcon remained unanswered, whereas a Macquarie spokesperson declined to remark.
Jaora-Nayagaon Toll Highway was initially owned by a consortium of 4 builders – SREI Group,
, and , as a particular function car (SPV) to develop Jaora-Nayagaon part, on construct, function and switch (BOT) – toll foundation. Ashoka Concessions acquired controlling stake and administration management of the venture in 2015, whereas IFCI offered 26% stake within the venture to Macquarie Infra.
Presently, Athaang owns three strategic street belongings, together with Dichpally Tollway – a 60-kilometre, four-lane toll street connecting Armur to Adloor on Nationwide Freeway-7 in Telangana; and Devanahalli Tollway – a strategic arterial 22-km six-lane toll street in Karnataka, connecting Bengaluru metropolis and its airport.
In April, NIIF had acquired GVR Ashoka Chennai Outer Ring Highway in Tamil Nadu from Ashoka Concessions for ₹686 crore. Final yr, ET first reported about NIIF’s plans to accumulate operational street belongings of Ashoka Concessions, together with Chennai ORR.
