Cube Mobility Investments, a part of the Cube Highways Group, has entered into financing agreements with the State Bank of India (SBI) for availing the term loan facility of Rs 3,500 crore towards the TOT Bundle-3 projects.
Cube Highways had been awarded toll, operate, transfer (TOT) Bundle-3 Projects, consisting of nine road stretches with 2,265 lane km across four states in India.
The TOT model developed by the National Highways Authority of India (NHAI) uses a one-time, upfront concession fee paid to the government in return for the right to operate, maintain and collect tolls over 30 years on select operational national highway stretches.
Following the transaction, Cube Highways will have 27 highways across India, totaling close to 8,400 lane km, including assets under various stages of closing.
Cube Highways invests in road and highway projects, along with other select infrastructure sectors in India. Cube Highways is backed by I Squared Capital and Abu Dhabi Investment Authority.
