Madhucom Proj to divest stake to TRIL Roads in Agra-Jpr Expway

Madhucon Projects Limited, a flagship company of Madhucon Group, today said it has entered into a termsheet with TATA's TRIL Roads Private Limited to sell Madhucon Agra-Jaipur Expressways Ltd for Rs 250 crore.
Madhucon Agra-Jaipur Expressways Limited is a step down subsidiary of Madhucon Projects Limited.
The acquisition is scheduled to be completed in 60 days.
Madhucon managing Director Nama Seethiah said the group has four operating toll/annuity road projects while three are under construction.
"The Group strategy is to leverage its renowned EPC expertise to execute road projects and flip the operating assets," Seethiah said in the statement.
Madhucon Group is involved in power, EPC, granites, sugar and toll roads businesses.

Madhucon Agra-Jaipur Expressways Limited (Road SPV) has a concession period of 25 years from the appointed date- April 12, 2006 (including construction of 2.5 years) and the project commenced collection of toll from May 5, 2009, the statement said.