Hindustan Construction Company's subsidiary sells its annuity project in AP

For Rs 64 crore

Hindustan Construction Company announced that HCC Concessions, a Subsidiary Company has announced the sale of Nirmal BOT, its annuity project in Andhra Pradesh to Highway Concession One, an entity majorly held by IDFC Alternatives managed India Infrastructure Fund.

HCC Concessions shall receive total consideration of Rs. 64 crore for this transaction.

Further, Nirmal BOT has also received an arbitration award in its favour for Rs. 16.67 crore, which shall be payable to HCC, upon receipt.

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