Rel Infra receives approval from NHAI for the sale of the Delhi-Agra highway

NEW DELHI: Dependency infrastructure (Rel Infra) has in principle an assent of the National Highway Authority of India ( NHAI ) for Delhi-Agra toll road sale to Cube Highways and Infrastructure for Rs 3.600 crore, a Rel Infra official said Thursday.

" Dependency infrastructure has received the in-principle approval for Harmonious Substitution in the Delhi-Agra (DA) toll road project on January 7 from the National Highway Authority of India ( NHAI )... Dependency infrastructure will receive an enterprise value of Rs 3,600 crore including equity of up to Rs 1,700 crore," the Dependency infrastructure official said.

The entire proceeds will be used by Dependency infrastructure to pay lenders and reduce the debt of the company, the official said.