The Singapore based fund Cube Highways has awarded Egis two contracts for the tolling operations on the Jhansi-Lalitpur stretch of NH-44 for a period of 30 years.
India's road network is the third largest in the world after the United States and China. Within this network, the NH-44 motorway linking Jhansi to Lalitpur, in the state of Uttar Pradesh, is the key link in the North-South corridor, currently the largest motorway project underway in India.
The Singapore-based concession company Cube Highways1, currently holds the largest portfolio of toll roads in India (28 roads with 8,900 km of roads). It has awarded the operation of these two contiguous roads to two public companies: Jhansi Lalitpur Tollway Ltd (in charge of a first 4-lane section, 49.7 km long) and Jhansi Lalitpur Tollway Ltd (in charge of a second contiguous 4-lane section, 49.3 km long).
This project has a well-established operational track record of toll collection since November 2014 and March 2012 respectively, with an optimal mix of passenger and commercial traffic.
Egis, the world leader in motorway and toll operations (more than 4,400 km of motorways worldwide, including 81 km of tunnels used daily by 3,500,000 vehicles), has been selected to manage and operate two toll plazas (8 lanes each) on this major Jhansi-Lalitpur route.
The project was awarded by the National Highways Agency of India (NHAI) in the form of a 30-year concession under the TOT3 (Toll Operate Transfer) scheme, following a competitive tender in November 2019.
For several years, Egis has been involved in many projects to upgrade and develop the entire road infrastructure of the country. This new operating contract strengthens the willingness of Egis to contribute to the sustainable economic and social development of India.
1 Cube Highways’ shareholders are leading international investors, consisting of I Squared Capital, a wholly owned subsidiary of the Abu Dhabi Investment Authority, International Finance Corporation, and a consortium of Japanese investors including Mitsubishi Corporation, Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development, East Nippon Expressway Company Ltd. and Japan Expressway Company International Ltd.