Cube Highways & Infrastructure, an independent operator of roads and highways in India, is in talks to purchase Ircon Soma Tollway Pvt. Ltd. (ISTPL) for an undisclosed sum, the Economic Times, India, reported.
ISTPL is a joint venture company, comprised of Ircon International Limited (IRCON) and Soma Enterprise Limited (SOMA), which have equal equity participation. It was created to implement and manage the world-class expressway that connects Dhule to Pimpalgaon in the state of Maharashtra.
The purchase will add to Cube Highways’ world-class portfolio of toll roads in India.
The company has four leading global financial institutions that serve as shareholders, including I Squared Capital, International Finance Corporation, Abu Dhabi Investment Authority, and Japan Highway International.
