NIIF may buy Ashoka Buildcon Toll Road in MP for Rs.1,000-Cr

National Investment and Infrastructure Fund (NIIF) is in talks to acquire a road project owned jointly by Ashoka Buildcon and Macquarie India, valuing the Madhya Pradesh property in the vicinity of INR 1,000 crore. The asset will be acquired through Athaang Infrastructure, the road platform incubated by NIIF Master Fund. The talks are reaching the concluding stage on ownership transfer of the Jaora-Nayagaon Toll Road Company that operates the 120-km Jaora-Nayagaon section of SH-31 (erstwhile NH-79). An Ashoka subsidiary owns 74% of the Jaora-Nayagaon Toll Road Company, while Macquarie India owns the rest.