Uniquest completes acquisition of second toll road

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Uniquest completes acquisition of second toll road

Uniquest Infra Ventures Pvt Ltd has completed the acquisition of a majority stake in SEW Navayuga Barwani Tollways Pvt Ltd from SEW Infrastructure Ltd and Navayuga Engineering Company Ltd.

In December, SEW Infrastructure Ltd and Navayuga Engineering Company Ltd. inked a pact with Uniquest Infra to divest 67% stake in SEW Navayuga Barwani Tollways Pvt Ltd-a special purpose vehicle of SEW Infrastructure (backed by Citi Venture Capital and NYLIM Jacob Ballas) and Navayuga Engineering (backed by 3i Group)-subject to customary closing conditions.

SEW Navayuga Barwani Tollways is operating the Khalaghat road project in Madhya Pradesh and Maharashtra border on a section of NH-3 from km 84.70 to km 167.50, under a concession agreement signed with the National Highways Authority of India. The Rs800 crore (US$127 million) build operate and transfer (BOT)  project started commercial operations in April 2011.

Zaiviji Ismail, Uniquest Infra Ventures chairman, stated:

We will continue to look for similar acquisition opportunities in India for we aim to expand our presence and are committed to build a portfolio of quality assets

Uniquest Infra Ventures is a joint venture of UEM Group Berhad (a wholly owned subsidiary of Khazanah Nasional Berhad - the investment arm of Government of Malaysia) and IDFC Limited. The company invests long-term capital in infrastructure projects.

Earlier Uniquest had acquired equity stake in Jetpur Somnath Tollways Private Limited (JSTPL) which is implementing a 124 Km build operate transfer (BOT) project on NH-8D connecting Jetpur and Somnath in Gujarat.

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