NTR IS raising €50 million by selling the East-Link toll bridge in Dublin and a range of other Irish road assets, including is shareholding in the Dundalk Western Bypass in Co Louth. The sales will largely mark the group’s exit from toll roads.

The utility group said yesterday that it was selling the East-Link and Dundalk Western assets to Dutch investment fund DIF Infrastructure II. Under the terms of the deal, DIF will take on responsibility for managing the East-Link toll facility.

In addition, NTR will dispose of its operation and maintenance division, which includes its shareholding in North-Link (Dundalk), South-Link (Waterford) and Mid-Link (Portlaoise), to French infrastructure firm Egis.

NTR said the deals were in line with the firm’s strategy of focusing on renewable energy and sustainable waste management.

“The transactions offer considerable value to our shareholders and will allow NTR to continue to invest in the growth and development of the company across our renewable and sustainable waste management portfolio,” said NTR chief executive Jim Barry.

He described the move as a “major milestone” for NTR, which began operating Dublin’s East-Link in 1984. The concession, which was the State’s first public-private partnership, will run until the end of 2015. NTR reassured the market that the facility will run “as normal” under new ownership.

Mr Barry thanked the company’s employees and partners for the contribution they had made to the roads business.

Founded in 1978, NTR has more recently shifted its focus to wind, solar and ethanol energy, as well as waste management.

The group will retain its shareholding in the recently opened CRG Waterford and CRG Portlaoise toll concessions, where the contracts extend to 2036 and 2037 respectively.