Reliance Infra Sells Pune-Satara Toll Road: Anil Ambani’s company Reliance Infrastructure (Reliance Infrastructure) has decided to sell its Pune-Satara toll road project. The project will buy Singapore company Cube Highways and Infrastructure III (Cube Highways). The deal costs around Rs 2,000 crore. In this, Reliance Infra will get Rs 600 crore cash and the company’s loan of Rs 1,400 crore will decrease. The company says that the deal is part of its plan to sell non-essential assets and focus on the main business. The 140 km long six-lane expressway improves Mumbai-Bangalore connectivity.
600 crore rupees cash and relief in debt
With this deal, Reliance Infra will get Rs 600 crore cash (cash). The company will use this money in its main functioning and further development plans. Apart from this, this deal will also reduce the loan of the company. According to the report, Reliance Infra’s loan of Rs 1,400 crore will decrease. This will strengthen the company’s balance sheet. The company said that there is no loan on its standalone balance sheet. This means that she is running her work without becoming more dependent on borrowings.
Specialty of Pune-Satara Toll Road
This toll road project is a 140 km long, six -lane expressway. The road extends from Pune to Satara and is part of the National Highway NH-48. This highway was constructed on the build-operate-transfer (BOT) model. This project is an important part of Golden Quadrilateral, which strengthens connectivity between Mumbai and Bengaluru. The toll collection work on this road started from October 2010.
Second big deal with cube highways
The deal is the second major agreement between Reliance Infra and Cube Highways. Earlier, in 2020, Reliance also sold his Delhi-Agra Toll Road for Rs 3,600 crore. In this way, the partnership between the two companies is getting deeper.
Management of seven toll road
Reliance Infra currently operates 7 toll road projects across the country. Their total length is about 2,468 lane kilometers. The sale of Pune-Satara toll road will help the company to make its future strategy and create a strong financial situation.
Why are toll roads being sold?
Reliance Infra says that this step is part of the strategy to raise money by selling non-core assets. With this, the company will be able to focus on its main businesses and will be able to work on new development schemes in the coming time.
