IVRCL has terminated the long pending deal with TRIL Roads for sale of 3 SPV’s -- Kumarapalayam Tollways, Salem Tollways and IVRCL Chengapalli Tollways. The deal got terminated due to delay in achieving certain conditions precedent as per the share purchase agreements.
The company is exploring other options for divestment of these tollway projects in order to reduce the debt burden of these SPV companies and free the investment of the company.
IVRCL is engaged in the business of development and execution of engineering, procurement, construction and commissioning (EPCC) and lump sum turnkey (LSTK) facilities in various Infrastructure projects.
