Adani Road Transport is all set to acquire an MBCPNL portfolio worth Rs 1,680
Adani Road Transport is moving ahead for another acquisition 49% stake in Maharashtra Border Check Post Network (MBCPNL), a subsidiary of Sadbhav Infrastructure Project Limited(SIPL).
The acquisition is valued at Rs 1,680 crore and is subject to the lender’s approvals and customary regulations, the company mentioned, adding on, the deal is expected to close in the Q3 FY22.
"India has made tremendous progress in building its road infrastructure and syncing the nation, an essential contributing factor in economic growth and development,” said Krishna Prakash Maheshwari, CEO of ARTL.
MBCPNL is an integrated registry of 24 border check posts, with service fee collection rights from the commercial vehicles regarding all traffic routes in and out of Maharashtra until 2023.
ADANI Group’s drive is to create a world-class portfolio of roads networks is linked with the company’s mission to become India’s largest road infrastructure owner and operator.