India Highway Concession Trust, an infrastructure investment trust set up by Caisse de dépôt et placement du Québec (CDPQ), has agreed to purchase a BOT road project in the Indian state of Odisha.
Indian road developer Bharat Road Network Ltd. (BRNL), which owns a 40 percent stake in the project, is selling it to CDPQ for an undisclosed amount through a share-purchase agreement.
The agreement includes the complete transfer of ownership of Shree Jagannath Expressway, the special purpose vehicle engaged in the development, operation and maintenance of a 67-kilometer (42-mile) toll road project.
“We are thrilled with the acquisition of Shree Jagannath Expressway,” said Emmanuel Jaclot, executive vice president and head of infrastructure at CDPQ. “It will be the first asset integrated into the new CDPQ-owned roads platform in India, which we set up and staffed in 2020. This reflects our long-term confidence and interest for the sector and more broadly the I
