SEW Infrastructure Limited, together with Navayuga Engineering Company Limited, has entered into an agreement with Uniquest Infra Ventures Private Limited to divest a significant majority stake in SEW Navayuga Barwani Tollways Private Limited (SNBTPL) to the latter, subject to customary closing conditions.
SNBTPL is operating an 83-kilometre stretch of the Khalghat–MP/Maharashtra Border section of the NH-3 in Madhya Pradesh, under a concession agreement signed with NHAI.
The project commenced commercial operations in April 2011.
“We are glad to announce the signing of this agreement with Uniquest Infra Ventures Private Limited. The proceeds of the divestment would assist in improving the liquidity and strengthen the overall financial position of the company. We look at the future with confidence and hope,” SEW Infrastructure director, S Anil Kumar, stated in a press release on Wednesday.
