Adani Road Transport Ltd. (ARTL), a subsidiary of Adani Enterprises, has agreed to acquire a 49 percent stake in Maharashtra Border Check Post Network Ltd. (MBCPNL), a special purpose vehicle (SPV) created for the construction, operation and maintenance of check posts in India.
Sadbhav Infrastructure Project Ltd. (SIPL) sold the near-half stake to ARTL for INR 1,680 crore ($221.6 million), according to news reports.
MBCPNL has an integrated portfolio of 24 modernized and computerized border check posts (SCP) in the State of Maharashtra. ARTL said it has the option to acquire an additional stake in MBCPNL at a later time.
“India has made tremendous progress in building its road network and interlinking the nation, an essential contributing factor in economic development,” said Krishna Prakash Maheshwari, CEO of ARTL. “As the nation’s largest infrastructure player, the Adani Group’s drive to create a world-class portfolio of road networks is aligned with
