Jaiprakash Associates' Wholly Owned Subsidiary, Himalyan Expressway Ltd., Transfers Concession Rights to Cloudneo Highways

Jaiprakash Associates Ltd. has announced that its wholly owned subsidiary, Himalyan Expressway Limited (HEL), has entered into a binding agreement on 34th July 2025 with the National Highway Authority of India (NHAI), Cloudneo Highways Private Limited (New Concessionaire), and ICICI Bank Limited (Lenders’ Representative) for the endorsement/transfer of all the rights, title, interest, and obligations of the Concession Agreement. This agreement is for the remaining period of the concession to Cloudneo Highways Private Limited in respect of the Project covering design, engineering, finance, construction, development, operation & maintenance, rehabilitation and strengthening of the 2 lane road and widening to 4 lane divided carriageway facility highway from Km 39.860 to Km 67.000 of the Zirakpur to Parwanoo Section including Pinjor—Kalka- Parwanoo Bypass section of National Highway No. 22 in the states of Punjab, Haryana and Himachal Pradesh, India which was awarded by NHAI to HEL on build, operate and transfer (BOT) basis.