Private Equity

PE Fund Investments

NIIF invests in J&K tunnel road

Economic Times  

National Investment and Infrastructure Fund (NIIF) has acquired an equity stake in the Navayuga Quazigund Expressway at an enterprise value of around USD 380 million. The investment in the operational tunnel road in Jammu and Kashmir (J&K) will be made through NIIF Master Fund's roads platform, Athaang Infrastructure. Navayuga Expressway is an annuity project awarded by the National Highways Authority of India (NHAI) on a BOT (build-operate-transfer) basis. It receives fixed, semi-annual payments from NHAI, providing predictable cash flows. The four-laned 16.3 km expressway between Quazigund and Banihal Section of NH-1A, includes a bi-directional 8.5 km continuous twin-tube tunnel stretch. The road provides a vital link between Jammu and Srinagar.