By Admin 
Anil ambani: Anil Ambani’s company Reliance Infrastructure has proposed to sell its Pune Satara Toll Road (PSTRPL) project to Singapore company Cube Highways Infrastructure III Private Limited to its Pune Satara Toll Road (PSTRPL) project. This deal has been estimated to be for Rs 2000 crore.
Why did the company decide to sell the project?
According to the Economic Times report, the Infrastructure Company said in a statement on August 22 that the move aims to monnetize its non-core assets and strengthen the company financially in the long term.
The company said in a statement, “This transaction is an important milestone in the company’s strategy to increase the non-core assets of Reliance Infrastructure, to increase financial flea and valuations in the long term.” This deal will probably be finalized by the end of this month, provided the required regulatory approvals for this.
What will the company do for these money?
Reliance Infrastructure has said that the company will use Rs 600 crore from this deal for future schemes. While the remaining 1400 crore rupees will be done to repay the outstanding loans. This will strengthen the company’s balance sheet.
The foundation of PSTRPL was laid in 2010, which was fully owned by Reliance Infrastructure. Its purpose was to widen the Pune-Satara section from four lanes to six lanes under Phase V of NHDP (National Highway Development Project) in Maharashtra. The project was temporarily completed on 30 April, 2022 and is now in the process of completion. Earlier in 2020, Reliance Infrastructure sold Delhi-Agra Toll Road to Cube Highways for 3600 crores. On Friday, Reliance Infra’s shares fell 4.44 percent to close at the level of 289.50.
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