KKR-backed Highways Infrastructure Trust (HIT) has acquired 12 road projects from PNC Infratech and PNC Infra Holdings Limited at an enterprise value of Rs 90 billion, making it one of the major acquisitions in the road sector. The road portfolio comprises 11 hybrid annuity concessions from NHAI and one toll road concession from Uttar Pradesh State Highways Authority, covering approximately 3,800 lane km in Rajasthan, Uttar Pradesh, Madhya Pradesh and Karnataka. Of this, ten projects are operational, while the remaining two are under construction.
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