Kolkata: Bharat Road Network Limited (\u201cBRNL\u201d), one of India\u2019s leading road developers, along with its partners, has signed an agreement with India Highway Concession Trust, an infrastructure investment trust set up by Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ), a global institutional investor, for the sale of a BOT road project in the state of Odisha. BRNL is currently the largest shareholder, with a 40% stake in this project.<\/p>\n
The Share Purchase Agreement provides for the complete transfer of ownership of Shree Jagannath Expressway Private Limited, the special purpose vehicle (SPV) engaged in the development, operation and maintenance of a 67-kilometre toll road project from Bhubaneswar to Chandikhole, in Odisha. Project operations started in December 2011, with an initial concession period of 26 years.<\/p>\n
Speaking on the development, Bajrang Kumar Choudhary, Managing Director, BRNL said: \u201cThe transaction is in line with BRNL\u2019s strategic plan for stakeholder value creation through portfolio assets reallocation while focusing on enhancing operational excellence and increasing financial efficiencies in existing assets. The transaction is expected to help BRNL in reducing its debts and will also provide the company with funds for reinvesting in its existing assets under construction.\u201d<\/p>\n
Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure, CDPQ, said: \u201cWe are thrilled with the acquisition of Shree Jagannath Expressway. It will be the first asset integrated into the new CDPQ-owned roads platform in India, which we set up and staffed in 2020. This reflects our long-term confidence and interest for the sector and more broadly the Indian infrastructure market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Kolkata: Bharat Road Network Limited (\u201cBRNL\u201d), one of India\u2019s leading road developers, along with its partners, has signed an agreement with India Highway Concession Trust, an infrastructure investment trust set up by Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ), a global institutional investor, for the sale of a BOT road project in the state […]<\/p>\n","protected":false},"author":1,"featured_media":5940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-5939","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/5939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5939"}],"version-history":[{"count":1,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/5939\/revisions"}],"predecessor-version":[{"id":5941,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/posts\/5939\/revisions\/5941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=\/wp\/v2\/media\/5940"}],"wp:attachment":[{"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncrfrontlinenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}