The enterprise price for PS toll road transactions is estimated at Rs 2,000 crore.
PS Toll Road Pvt. Limited is a special objective vehicle (SPV) that operates the project.
Reliance Infra said in a press statement, “Transaction represents an important milestone in a strategy to mud the non-core assets of Reliance Infrastructure, increase financial flexibility and focus on long-term value manufacturing.”
As part of the transaction, Reliance Infrastructure is expected to realize an equity income of Rs 600 crore. Money will be strategically deployed towards future development initiatives in core commercial areas.
In addition to the price receipt, the transaction is expected to reduce the company’s balance sheet further strengthened in the consolidated loans as a result of transactions, saying that it maintains a zero-loan position on a standalone base. Toll Road Private. Ltd. was established to develop, operate and maintain a 140 km six -lane expressway between Pune and Satara in Maharashtra, with the National Highway NH -4 (now NH -48). Under the Build-Operate-Transfer (toll) model, the project makes a cruel segment of a crucial segment of Swarn quadrilateral to a cruel segment. Toll collection on the corridor launched in October 2010. The transaction is expected to be completed by the end of this month, subject to the required regulatory approval.
The transaction makes a second toll road deal between Reliance Infrastructure and Cube highways.
In 2020, Reliance Infrastructure completed sales of its Delhi-Agra Toll Road Asset to Cube highways for a total of Rs 3,600 crore.
The Reliance Infrastructure currently operates a diverse portfolio of seven toll road assets, which spreads to a total length of about 2,468 lane kilometers in the major high-traffic corridors in India.
These projects, the company said, strategically is located to support regional connectivity, to convenience goods and passenger movement, and to contribute to the development of the country’s main infrastructure under the public-private partnership model.
