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Uniquest Infra Ventures Private Limited (Uniquest) stated it has completed the acquisition of a majority stake in SEW Navayuga Barwani Tollways Private Limited (SNBTPL) from SEW Infrastructure Limited and Navayuga Engineering Company Limited. Uniquest Infra is a joint venture of UEM Group Berhad through its subsidiary PLUS Expressways International Berhad and IDFC Limited. SEW and Navayuga Engineering are Hyderabad-based infrastructure development companies.
SNBTPL is operating the Khalghat section of NH-3 in Madhya Pradesh under a concession agreement signed with the National Highways Authority of India. The project, taken up as a JV by SEW and Navayuga Engineering, commenced commercial operations in April 2011.
“We will continue to look for similar acquisition opportunities in India for we aim to expand our presence and are committed to build a portfolio of quality assets,” Uniquest Infra chairman, Zaiviji Ismail, stated in a release.
Uniquest, which invests long-term capital in viable infrastructure projects, said it was currently focusing on investments in roads and highways sector. Earlier, it had acquired equity stake in Jetpur Somnath Tollways Private Limited, which was implementing a 124-km build operate and transfer (BOT) project on NH-8D connecting Jetpur and Somnath in Gujarat.
