Edelweiss-backed Sekura Roads will take forward its plans to acquire Thrissur Expressway (TEL) in a deal worth Rs 800 crore. The 28-km long road asset is owned by Hyderabad-based KMC Constructions.

In 2021, India Resurgence Fund, promoted by Piramal Enterprises and Bain Capital Credit, had invested Rs 555 crore (USD 75 million) in TEL for debt restructuring and for last mile financing to enable project completion.

Thrissur Expressway (TEL) is a special purpose vehicle (SPV) for six-laning of the Vadakancherry-Thrissur section of NH-47 in Kerala on a design-build-finance-operate (DBFO) basis. The consortium of KMC Constructions and China Railway 18th Bureau Group Corporation (CR18G) has been elected to execute the project, in a 74:26 shareholding ratio as the SPV for implementing the project.

Sekura Roads plans to float an Infrastructure Investment Trust (InvIT), and has been adding more road assets through inorganic growth routes. In December 2022, Sekura signed a Rs 6,000 crore worth deal allowing it to acquire a portfolio of eight roads spanning 4,900 lane km.

In April, 2023, Canada's British Columbia Investment Management Corporation (BCI) and Mubadala led a USD 630 million investment in Cube Highways InvIT. Further, KKR, Sekura and Cube Highways are in fray to acquire 11 road assets from Ashoka Concessions which is worth around Rs 5,500 crore.