Uniquest Infra Ventures Pvt Ltd has completed the acquisition of majority stake in SEW Navayuga Barwani Tollways Pvt Ltd from SEW Infrastructure Ltd and Navayuga Engineering Company Ltd.
The special purpose vehicle is operating the Khalghat-Madhya Pradesh/Maharashtra border section of National Highway-3 from Km 84.70 to Km 167.50 in Madhya Pradesh, under a concession agreement signed with the National Highways Authority of India. The project started commercial operations in April 2011.
“We will continue to look for similar acquisition opportunities in India for we aim to expand our presence and are committed to build a portfolio of quality assets,” Zaiviji Ismail, Chairman, Uniquest Infra Ventures, said in a statement.
Uniquest Infra Ventures Pvt Ltd is a joint venture of UEM Group Berhad through its subsidiary PLUS Expressways International Berhad and IDFC Ltd. Uniquest invests long-term capital in viable infrastructure projects that offer stable cash flows. It is currently focusing on investments in roads and highways sector.
Earlier, Uniquest had acquired equity stake in Jetpur Somnath Tollways Pvt Ltd (JSTPL) which is implementing a 124 km BOT project on NH-8D connecting Jetpur and Somnath in Gujarat. It is the single largest shareholder of JSTPL.
SEW and Navayuga Infrastructure are both Hyderabad-based infrastructure companies.
rishikumar.vundi@thehindu.co.in