Bharat Road Network (BRNL), along with its partners, has signed an agreement with India Highway Concession Trust, an infrastructure investment trust set up by Caisse de depot et placement du Quebec (CDPQ), a global institutional investor, for the sale of a BOT road project in the state of Odisha. BRNL is currently the largest shareholder, with a 40% stake in this project.
The Share Purchase Agreement provides for the complete transfer of ownership of Shree Jagannath Expressway, the special purpose vehicle (SPV) engaged in the development, operation and maintenance of a 67-kilometre toll road project from Bhubaneswar to Chandikhole, in Odisha. Project operations started in December 2011, with an initial concession period of 26 years.
Bharat Road Network is an infrastructure company. It is engaged in the development and implementation of important roads and highways. The firm caters to the requirements of build-operate-transfer sector.
