KKR has signed definitive agreements to acquire Global Infrastructure Partners’ entire interest in India’s Highway Concessions One (HC1) and seven highway assets across India.
HC1 manages GIP’s road portfolio, which spans Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu and Telangana.
Through the acquisition, KKR is aiming to help bolster and expand India’s national highway network, which serves about 40 percent of total traffic but accounts for only 2 percent of the country’s road network. This investment is also in line with the government’s focus on improving connectivity between cities, with the National Highways Authority of India planning to build 60,000 kilometers (37,280 miles) of highway in the next five years.
KKR made the investment via its KKR Asia Pacific Infrastructure Fund, the firm’s third investment in India from the fund and KKR’s first investment in Asia’s transport sector.
“Roads are one of the l
