NIIF picks up stake in J&K tunnel road asset

The National Investment and Infrastructure Fund has announced a $380 million (Rs 30.35 billion) investment in Navayuga Quazigund Expressway Private Limited (NQEPL) for an undisclosed stake. The NIIF made the investment in NQEPL, a build-operate-transfer project of NHAI, through its Master Fund. Post the transaction, Athaang Infrastructure, the fund’s proprietary roads platform, will administer the operating tunnel road in Jammu & Kashmir.