Vinci Highways to Acquire 51% Stake in Telangana's SH1 Motorway
Vinci Highways has agreed to purchase a 51% stake in HKR Roadways Limited, which operates the SH1 motorway in Telangana. The deal, worth around €40m (£33m), is expected to close by the end of 2024, pending approval from relevant authorities.
The SH1 motorway, commissioned in 2014, stretches 206km between Hyderabad and the north-east of Telangana. HKR Roadways, currently holding a concession contract until 2041 with the state government, will see Vinci Highways and GIP's Emerging Markets Fund as new majority stakeholders, with Vinci owning 51% and GIP 49%.
Upon completion, Vinci Highways plans to invest significantly in the motorway's maintenance and development. However, the specific approval process and authorities involved in finalising the acquisition remain unclear, as no relevant search results were found.
The acquisition, once approved and finalised, will bring Vinci Highways into the Indian road infrastructure sector. The investment is expected to enhance the SH1 motorway's condition and services, benefiting Telangana's residents and economy.
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