Indian roads and highways projects operator Bharat Road Network Ltd. (BRNL) has signed an agreement to sell a stake in its toll road project, Ghaziabad Aligarh Expressway Pvt Ltd.
BRNL will sell the 39 percent stake in Ghaziabad Aligarh Expressway, which is valued at 1,830 crore rupees ($264 million), to Singaporean investment firm Cube Highways and Infrastructure.
The proposed acquisition is subject to applicable regulatory and other approvals and certain conditions, more specifically laid down in the share purchase agreement.
BRNL said that Ghaziabad Aligarh Expressway registered daily toll revenue of $58,786 in the fiscal year 2017.