NIIF to acquire Ashoka Buildcon toll road company

National Investment and Infrastructure Fund (NIIF), India's first infrastructure-focused corpus, is in talks to acquire a road project owned by Ashoka Buildcon and Macquarie India. Madhya Pradesh property in surrounding areas is valued at Rs 1,000 crore.

Talks are said to be reaching final stages on the transfer of ownership of the Jaora-Nayagaon Toll Road Company operating the 120km long Jaora-Nayagaon section, SH-31 (formerly NH-79). Ashoka's subsidiary has a 74% share of the Jaora-Nayagaon Toll Road Company and the remaining 26% is owned by Macquarie India.

As the talks are in their final stages, the deal is expected to be signed within a month.