NIIF buys out SP Jammu Udhampur Highway for $290-M

National Investment and Infrastructure Fund (NIIF) has acquired the entire shareholding in SP Jammu Udhampur Highway Limited from the Shapoorji Pallonji Group for USD 290 million (about INR 2,200 crore). SP Jammu Udhampur Highway is the developer for the Jammu Udhampur Highway project under concession from National Highways Authority of India on a Build-Operate-Transfer (Annuity) basis. The 64.5 km long 4-lane Jammu Udhampur Highway which enhances connectivity to Shri Mata Vaishno Devi Shrine.