NIIF completed the acquisition of a stake in Navayuga Quazigund Expressway at $380m valuation.

National Investment and Infrastructure Fund, an infrastructure specific investment fund, completed the acquisition of a stake in Navayuga Quazigund Expressway, a four-lane expressway spans 16.3 km between Quazigund and Banihal Section of NH-1A, from Navayuga Engineering Company, an infrastructure and engineering company, at $380m valuation. "We are delighted to add this important asset to our portfolio which is also the first tunnel road that we have acquired. This acquisition emphasises our focus on identifying fundamentally strong assets that offer long- term value creation. Operations and maintenance of this asset requires specialised technical and management expertise and is a testament to the strength of Athaang Infrastructure. Leveraging the team’s strong underwriting capabilities and a well-structured investment approach, we will continue to build the NIIF Master Fund road portfolio with an efficient selection of high-quality assets and superior O & M practices," Vinod Giri, NIIF Managing Partner.