Bharat Road Network signs deal with Cube Highways for sale of a 126km road project in UP

The share purchase agreement provides for the sale of entire stake in Ghaziabad Aligarh Expressway, the SPV engaged in the development, operation and maintenance of a 126-kilometre toll road project from Ghaziabad to Aligarh on NH-34. The project has been granted a 24-year concession in 2011 for strengthening and widening the two-lane highway. Toll collection on this road started in June 2015.
Bajrang Kumar Choudhary, MD, BRNL, said: “We continue to explore opportunities for value creation through our portfolio realignment. We remain focused towards optimizing value through such strategic exits and are equally committed to raise resources to capitalise on the current and upcoming primary and secondary market opportunities in the highway sector.