The KKR-backed Highway Infrastructure Trust has acquired 12 road projects from PNC Infratech and PNC Infra Holdings. The enterprise value stands at Rs 90.05 billion, making this one of the most substantial acquisitions in the road sector. The road portfolio comprises 11 hybrid annuity concessions from NHAI and one toll road concession from the Uttar Pradesh State Highways Authority, covering approximately 3,800 lane km in Rajasthan, Uttar Pradesh, Madhya Pradesh and Karnataka. Of these, 10 projects are operational, while the other two are under construction.
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