Hindustan Construction Company’s (HCC) subsidiary -- HCC Concessions (HCON) has signed an agreement with Cube Highways to sell Baharampore-Farakka Highways (BFHL) at an enterprise value of Rs 1,279 crore, implying an equity valuation of Rs 600 crore. In addition to the equity value, Rs 200 crore of earnout is payable in May 2024 contingent on achieving revenue thresholds.
BFHL is a 101-km long road which is part of National Highway-12 in West Bengal connecting Kolkata and the port of Haldia to the northern part of the state and North-East India. HCON will be entitled to a material revenue share for the life of the concession.
Hindustan Construction Company is a leader in engineering and construction space. The company has established a vast presence and gained recognition in the sectors of Hydro Power, Water Solutions, Transportation and Nuclear Power.
