Cube Highways raises $473m to buy NHAI toll roads

Cube Highways raises $473m to buy NHAI toll roads

Photo: Reuters

Cube Highways and Infrastructure on Tuesday announced an agreement with State Bank of India (SBI) for a ₹3,500 crore term loan facility to purchase the third bundle of road assets auctioned under the government’s toll-operate-transfer (TOT) model.

This is one of the largest financings in India’s road sector, said Cube Highways, which was set up by global infrastructure investment firm I Squared Capital and counts Abu Dhabi Investment Authority among its shareholders.

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