BUSINESS

Adani Buys Macquarie Infra’s Toll Roads in Andhra

On Thursday, Adani Road Transport Ltd (ARTL), a subsidiary of Adani Enterprises, signed an agreement with Macquarie Asia Infrastructure Fund. The purpose of this agreement is to acquire 56.8 per cent shares in Gujarat Road and Infrastructure Company Ltd (GRICIL) and whole shares in Swarna Tollway Pvt Ltd.

Till September, the deal, which was executed at Rs 3,110 crore, will give Adani control over four stretches of toll roads in Andhra Pradesh and Gujarat, as per the company’s statement. There are two stretches in Swarna Tollway for toll roads in Andhra Pradesh, Tada to Nellore on NH-16 connecting important ports such as Chennai and Krishnapatnam in Andhra Pradesh, and Nandigama to Ibrahimpatnam to Vijayawada.

Two toll roads which operated by GRICL, whereas Adani owns its flagship Mundra Port, Ahmedabad to Mehsana on SH-41, with a majority of passenger traffic connecting important northern Gujarat corridors. Also, WDFC (Western Dedicated Freight Corridor passes through Mehsana. On the other hand, the second road from Vadodara is part of the Delhi Mumbai Industrial Corridor.

Recently, eight Hybrid Annuity Mode (HAM) projects were operated by Adani, five builds operate transfer projects, and one toll operates road projection in ten states in India. Moreover, the projects under management are also operated by Adani for Rs 41,000 crore.

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