NCLT approves composite scheme of APSEZ for SRCPL acquisition
RAILWAYS & METRO RAIL

NCLT approves composite scheme of APSEZ for SRCPL acquisition

Adani Ports and Special Economic Zone (APSEZ) told the media that the company's composite scheme for the acquisition of Sarguja Rail Corridor Private Limited (SRCPL) had been approved by the National Company Law Tribunal (NCLT).

According to a statement by APSEZ, the company will consolidate all rail assets under Adani Tracks Management Services Private Limited.

The consolidation will allow APSEZ, targeting 2,000 km of track length by 2025, to participate in the Indian Railways Public-Private Partnership (PPP) without competing with a similar business in the Adani portfolio, which is in full alignment with the equity interest of minority stakeholders.

As per a statement, after the consolidation, SRCPL will add Rs 450 crore or 5% of APSEZ's total Earnings Before Interest Tax, Depreciation and Amortisation (EBITDA).

Image Source

Also read: APSEZ seeks environmental nod to boost Gangavaram port capacity

Adani Ports and Special Economic Zone (APSEZ) told the media that the company's composite scheme for the acquisition of Sarguja Rail Corridor Private Limited (SRCPL) had been approved by the National Company Law Tribunal (NCLT). According to a statement by APSEZ, the company will consolidate all rail assets under Adani Tracks Management Services Private Limited. The consolidation will allow APSEZ, targeting 2,000 km of track length by 2025, to participate in the Indian Railways Public-Private Partnership (PPP) without competing with a similar business in the Adani portfolio, which is in full alignment with the equity interest of minority stakeholders. As per a statement, after the consolidation, SRCPL will add Rs 450 crore or 5% of APSEZ's total Earnings Before Interest Tax, Depreciation and Amortisation (EBITDA). Image Source Also read: APSEZ seeks environmental nod to boost Gangavaram port capacity

Next Story
Infrastructure Transport

NHAI to Upgrade Tamil Nadu Highways

To reduce congestion on key national highways in Tamil Nadu, the National Highways Authority of India (NHAI) has planned capacity upgrades for at least eight highway stretches. The improvements will include bypasses, flyovers, and four-laning in Salem, Coimbatore, Tiruppur, Nilgiris, and Cuddalore. NHAI has invited tenders to appoint consultants for preparing detailed project reports (DPRs) on these expansions. The affected highways include NH-181, NH-81, NH-532, NH-85, and NH-136. Proposed Upgrades Across Highways - NH-181 (Coimbatore-Gundlupet Route): This stretch will see four bypasses an..

Next Story
Infrastructure Transport

Ludhiana-Bathinda Highway Revived as NHAI Invites Bids

The Ludhiana-Bathinda highway project, initially stalled due to land acquisition issues, has been revived as the National Highways Authority of India (NHAI) invites fresh bids to resume construction. The project, part of the Ludhiana-Ajmer Economic Corridor, is estimated to cost Rs 24.61 billion and will be executed in two phases. Package 1, covering 30.03 km, has a budget of Rs 9.06 billion, while Package 2, spanning 45.25 km, is set to cost Rs 15.55 billion. The NHAI had previously withdrawn the project due to unavailability of land. However, intervention from Union Minister for Road Trans..

Next Story
Infrastructure Urban

Dilip Buildcon Wins Rs 460M Arbitration

Infrastructure major Dilip Buildcon has secured an arbitration award of Rs 460 million against the National Highways Authority of India (NHAI) over delays and breaches during the execution of a highway project in Karnataka. The dispute pertains to the Rehabilitation and Upgradation of the Kerala Border to Kollegala Section of NH 212, awarded to Dilip Buildcon under an Engineering, Procurement, and Construction (EPC) agreement dated June 6, 2014. The project involved two-lane expansion with paved shoulders and four-lane development under the National Highways Development Project (NHDP) Phase IV..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?