The Canada Pension Plan Investment Board (CPP Investments) has invested INR 18.2 billion ($219 million) in the units of National Highways Infra Trust (NHIT), an infrastructure investment trust sponsored by the National highways Authority of India.
The investment will be used to acquire seven brownfield toll roads, currently owned by NHAI, as part of India’s government’s National Monetization Pipeline.
The investment increase CPP’s share of NHIT Units to INR 36.8 billion ($442.7 million), 25 percent of total NHIT units.
The newly acquired toll roads increase NHIT’s portfolio from eight to 15 toll roads. NHIT’s total portfolio will span more than 1,500 kilometers (900 miles) across nine Indian states, following completion of the transaction.
“India remains a key market for CPP Investments and infrastructure is vital to the country’s economic growth. Our follow-on investment in NHIT deepens our commitment to this highly scalable platform, which