{"id":20737,"date":"2022-02-02T19:57:13","date_gmt":"2022-02-02T14:27:13","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-hcc-group-bfhl\/"},"modified":"2022-02-02T19:57:13","modified_gmt":"2022-02-02T14:27:13","slug":"biz-hcc-group-bfhl","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-hcc-group-bfhl\/","title":{"rendered":"HCC Group signs pact with Cube for sale of Baharampore-Farakka Highway in Bengal"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-845682652\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Kolkata, Feb 2 (PTI) HCC Group on Wednesday said it has signed an agreement with Cube Highways to sell Baharampore-Farakka Highways Ltd (BFHL) at an enterprise value of Rs 1,279 crore.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-828803577\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>It is a 101-km long road which is part of National Highway-12 in West Bengal connecting Kolkata and the port of Haldia to the northern part of the state and North-East India.<\/p>\n<p>HCC Concessions Ltd (HCON), a subsidiary of HCC Ltd, owns the road project, and the transaction with Cube Highways is structured in a way that will be resulting in total liquidity to the group of up to Rs 900 crore.<\/p>\n<p>&#8220;Besides this, we have another terminated project in the books of HCON and two arbitration awards are awaited for claims. We will continue to utilise the company&#8217;s expertise in bidding for future road projects,&#8221; HCC Infrastructure COO Atul Kumar told PTI.<\/p><div class=\"trade-content_5\" id=\"trade-3265754972\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>HCC Infra is the immediate parent of HCC Concessions Ltd.<\/p>\n<p>\u201cHCC Group has signed binding terms with Cube Highways and Infrastructure V Pte Ltd for 100 per cent sale of BFHL at an enterprise value of Rs 1,279 crore, implying an equity valuation of Rs 600 crore. In addition to the equity value, Rs 200 crore of earnout is payable in May 2024 contingent on achieving revenue thresholds,&#8221; HCC said.<\/p>\n<p>HCON will be entitled to a material revenue share for the life of the concession.<\/p>\n<p>The company said it will be securitising part of these future BFHL receivables through a loan of up to Rs 300 crore, resulting in total liquidity to the group of up to Rs 900 crore.<\/p>\n<p>BFHL has a balance concession period of 19 years. The transaction is subject to closing adjustments, customary due diligence, and approvals including from the NHAI.<\/p>\n<p>Baharampore-Farakka Highways is a special purpose vehicle of HCON which was incorporated in 2010, for design, build, finance, operate, and transfer (DBFOT) toll of the four-lane highway between Baharampore and Farakka section of NH-12 (earlier NH-34).<\/p><div class=\"trade-content-10\" id=\"trade-3485552472\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>NHAI has granted a concession period of 25 years (extending to 30 years) to the company and BFHL commenced toll operations on May 14, 2014.<\/p>\n<p>HCC Concessions Ltd has developed and operated over Rs 7000 crore NHAI concessions.<\/p>\n<p>The holding company, HCC Ltd had defaulted on debt. It has outstanding debt at consolidated level of Rs 9,727 crore, and a restructuring process is on. PTI BSM   NN   NN<\/p>\n<div class=\"trade-after-content\" id=\"trade-3341120753\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Kolkata, Feb 2 (PTI) HCC Group on Wednesday said it has signed an agreement with Cube Highways to sell Baharampore-Farakka Highways Ltd (BFHL) at an enterprise value of Rs 1,279 crore. It is a 101-km long road which is part of National Highway-12 in West Bengal connecting Kolkata and the port of Haldia to the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-20737","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HCC Group signs pact with Cube for sale of Baharampore-Farakka Highway in Bengal - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-hcc-group-bfhl\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HCC Group signs pact with Cube for sale of Baharampore-Farakka Highway in Bengal\" \/>\n<meta property=\"og:description\" content=\"Kolkata, Feb 2 (PTI) HCC Group on Wednesday said it has signed an agreement with Cube Highways to sell Baharampore-Farakka Highways Ltd (BFHL) at an enterprise value of Rs 1,279 crore. 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