11-May-2025
Corporate News
 
Adani company scraps pact to buy Gujarat, Andhra Pradesh toll roads
02-Jun-2023

Adani Road Transport, a wholly owned subsidiary of Adani Enterprises, on Thursday said it has terminated the pact to purchase Macquarie Asia Infrastructure Fund’s toll road portfolio in Andhra Pradesh and Gujarat for Rs 3,110 crore. Adani Road Transport on August 4, 2022, had entered into an agreement to acquire Gujarat Road and Infrastructure Company (GRICL) — (owned 56. 8% by Macquarie Asia Infrastructure Fund) and Swarna Tollway Private (STPL) (owned 100% by Macquarie Asia Infrastructure Fund). STPL has two stretches of toll roads in Andhra Pradesh — Tada to Nellore on NH-16 connecting important ports like Chennai, and Krishnapatnam in Andhra Pradesh, spanning 110km; and Nandigama to Ibrahimpatnam to Vijayawada on NH65, spanning 48km, which connects key southern metro cities and provides feeder traffic to NH16, the statement said.

News Source:- https://timesofindia.indiatimes.com/business/india-business/adani-company-scraps-pact-to-buy-gujarat-andhra-pradesh-toll-roads/articleshow/100690509.cms