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GMR Ulundurpet Expressways

Ulundurpet Expressways Private Limited

Sector:Transport Infrastructure - Roads
Stage:Operating

   
 

Investment description

Ulundurpet Expressways Private Limited ("UEPL") is a Special Purpose Vehicle ("SPV"), incorporated for construction and operation of a 4-laned 73 km long stretch connecting Tindivanam and Ulundurpet in the southern state of Tamil Nadu. The toll road is part of the National Highway network (NH45), which connects Chennai to Trichy and Madurai. The 20 year long Concession Agreement for UEPL was awarded by NHAI in 2006 to the GMR Group, pursuant to an international competitive bidding.

India Infrastructure Fund ("IIF") acquired a 74% stake in UEPL from the GMR group in February 2014. Balance 26% stake continues to be held by the GMR group. At the time of IIF's acquisition of controlling stake, UEPL had been operational for over 4 years and had a balance concession life of about 13 years.

   
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