VINCI Highways, a subsidiary of VINCI Concessions, has agreed to acquire a 51 percent stake in the company HKR Roadways, which holds a contract with the Telangana state government for the concession to the SH1 motorway, ending in 2041.
VINCI Highways will invest around €40 million ($44 million) of equity in this transaction. The acquisition was made in partnership with the Global Infrastructure Partners’ (GIP) Emerging Markets Fund, with GIP holding 49 percent in the concession company.
Commissioned in 2014, the SH1 motorway is an essential connection spanning 206 kilometers (128 miles) across Telangana, a state in southern India, located between its capital, Hyderabad, and the northeastern portion of the state.
The acquisition is expected to be finalized by the end of 2024, subject to approval from the relevant authorities.