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Reliance Infrastructure enters pact to sell Delhi-Agra Toll Road

Friday, 15 Mar 2019

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Reliance Infrastructure has entered an agreement with Cube Highways and Infrastructure for sale of 100 percent stakes in Delhi-Agra Toll Road. The enterprise value of the deal is over Rs 3,600 crore.

The proceeds from the sale of Delhi-Agra Toll road will be utilised by Reliance Infrastructure for debt reduction. The transaction is subject to all requisite permissions and approvals.

In addition to this, the National Highways Authority of India’s (NHAI) claims of Rs 1,200 crore to be filed by DA Toll Road will flow directly to Reliance Infrastructure. The transaction is in line with Reliance Infrastructure’s strategic plan of monetising non-core business and focus on major growth areas like engineering and construction business.

Reliance Infrastructure’s special purpose vehicle (SPV) DA Toll Road operates the 180 km long six-lane road that connects the national capital Delhi with Agra on NH-2. The tolling operation for the project started in October 2012 and has a concession period till 2038.