India's BRNL sells Ghaziabad- Aligarh toll project to Singapore company for Rs 1,600 crore.
Highway developer Bharat Road Network Ltd BRNL has
inked pact with Cube Highways for sale of its opera?ng toll
project in U?ar Pradesh. The en?re 39 percent stake held
by BRNL and its SPV partners will be transferred to Cube
Highways, according to the company.
The transac?on is valued at Rs 1,600 crore and the
proceeds will be used by BRNL towards debt mi?ga?on.
According to BRNL release,"The Share Purchase
Agreement provides for the sale of en?re stake in
Ghaziabad-Aligarh Expressway Private Limited, the special
purpose vehicle (SPV) engaged in the development,
opera?on and maintenance of a 126-kilometre toll road
project from Ghaziabad to Aligarh on Na?onal Highway 34
("NH34")," The project was awarded to the SPV for a 24-year
concession in 2011 and involved strengthening and
widening the two-lane highway. Toll collec?on on this road
started in June 2015.
Bajrang Kumar Choudhary, Managing Director, BRNL said,
"We con?nue to explore opportuni?es for value crea?on
through our por?olio realignment. We remain focused
towards op?mising value through such strategic exits and
are equally commi?ed to raise resources to capitalise on
the current and upcoming primary and secondary market
opportuni?es in the highway sector."
BRNL, which is listed on both NSE and BSE, is involved in
d eve l o p m e nt , i m p l e m e nta? o n , o p e ra? o n a n d
maintenance of roads and highways projects and has
presence in UP, Kerala, Haryana, Madhya Pradesh,
Maharashtra and Odisha.
The company has a project por?olio worth Rs 7,000 crore
consis?ng of six opera?onal BOT projects.
Cube Highways and Infrastructure Pte. Ltd. (Cube
Highways) is a Singapore-based company inves?ng in road
and highway projects, along with other select
infrastructure sectors in India.
Current Issue
02-2026
