Indian power generation to infrastructure company Reliance Infrastructure Ltd. plans to sell its entire stake in Delhi-Agra Toll Roadway, a 180 kilometer, six-lane road that connects Delhi with Agra on National Highway, for 3,600 crore rupees ($522 million).
Reliance, a subsidiary of Reliance Group, will sell the stake to Singapore-based toll roads manager and operator Cube Highways.
The deal is consistent with Reliance's strategic plan of monetizing non-core business and targeting major development areas like engineering and construction business.
Reliance Infrastructure plans to use the proceeds of the stake sale entirely to reduce its debt. The deal is subject to all requisite permissions and approvals.