The investment will be used to fund the construction of three toll roads, which will be constructed on sites owned by the NHAI
The Canada Pension Plan Investment Board (CPPIB) is investing $60 million in an infrastructure trust sponsored by the National Highways Authority of India, reported benefitscanada.com.
In 2021, the investment organization previously allocated $257 million to the National Highways Infra Trust during the platform’s initial public offering. Following the transaction, the CPPIB’s stake reached 25 per cent.
“We believe institutional capital will continue to play a meaningful role in addressing India’s infrastructure investment needs.”
— Scott Lawrence, Managing Director and Global Head of infrastructure at the CPPIB
The investment will be used to fund the construction of three toll roads, which will be constructed on sites owned by the NHAI. The acquisition will increase the size of the NHIT’s portfolio from five to eight toll roads with a combined length of about 635 kilometres.
“This follow-on investment further deepens our commitment to the [NHAI’s investment] platform to acquire road projects across the country, ultimately delivering solid long-term returns for the CPP fund,” said Scott Lawrence, Managing Director and Global Head of infrastructure at the CPPIB, in a press release. “We believe institutional capital will continue to play a meaningful role in addressing India’s infrastructure investment needs.”
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