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Cube Highways Acquires Nine Operating Roads in India for INR 50,110m
Wednesday 21 October 2020

Singapore-based transportation infrastructure company Cube Mobility Investments Pte. Ltd. has closed on the purchase of nine operating highway projects from the National Highways Authority of India for INR 50,110m (USD 684m), the company said.

In September 2020, Cube Highways signed the financing agreements with SBI for a term loan facility of INR 35,000 m for partly financing the upfront consideration.

The Cube Highways portfolio has 27 highways with nearly 8,400 lane-kilometers across India, including assets under various stages of closing.

Cube Mobility Investments Pte. Ltd. (Cube Highways) is a portfolio company of I Squared Capital through its ISQ Global Infrastructure Fund II.

The roads operate under the Toll-Operate-Transfer Model, which grants the right to collect tolls for 30 years on payment of an upfront consideration.

The nine projects have an aggregate of 566 kilometers in a four-lane configuration across Tamil Nadu, Jharkhand, Uttar Pradesh, and Bihar. The roads increase the geographical diversity and average concession length of the Cube Highways portfolio.

Cube Mobility Investments Pte. Ltd. (Cube Highways) invests in road and highway projects, along with other select infrastructure sectors in India.

Shareholders of Cube Highways are international investors including I Squared Capital and a wholly owned subsidiary of the Abu Dhabi Investment Authority.
Date Published: 21/10/2020