CPP investment to acquire 25% stake in National Highways Infra Trust

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Canada Pension Plan Investment Board (CPPIB) has announced the acquisition of 25% of the units in the National Highways Infra Trust, an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI). The transaction is worth INR15,029 million (US$201 million).

The National Highways Infra Trust has been set up to acquire brownfield toll roads from NHAI, the Indian government agency responsible for developing, maintaining and managing national highways in India. The InvIT will be seeded with a portfolio of five brownfield operating toll roads, under 30-year concessions. The portfolio spans nearly 390 kilometers across four Indian states: Gujarat, Karnataka, Rajasthan and Telangana.

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