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NIIFL acquires SP Jammu Udhampur Highway Limited

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NIIFL acquires SP Jammu Udhampur Highway Limited

The SP Jammu Udhampur Highway Limited of the Shapoorji Pallonji Group has been purchased by the National Investment and Infrastructure Fund Limited (NIIFL) through the NIIF Master Fund for an enterprise value of over USD 290 million. Athaang Infrastructure, a specialised roads platform owned by NIIF Master Fund, will manage Jammu and Kashmir’s (J & K) operational roads. The fund’s road portfolio now includes four assets with a combined revenue rate of more than USD 170 million per year as a result of this acquisition..

SP Under a Build-Operate-Transfer (Annuity) concession from the National Highways Authority of India (NHAI), Jammu Udhampur developed the highway project. The NHAI makes fixed, semi-annual payments to the project, supplying consistent and dependable cash flows.

This four-laned 64.5 km highway provides an essential link between Jammu and Srinagar, enabling seamless movement of traffic and goods, with enhanced inter-region connectivity and a significant reduction of travel time between the two cities. There is a 1.4 km twin-tube tunnel section on the highway.

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Another road asset in J&K that NIIF Master Fund has purchased is the Navayuga Quazigund Expressway. The 6-lane Devanahalli Tollway in Bengaluru and the 4-lane Dichpally Tollway in Telangana are included in the fund’s portfolio of roads.

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