USD 2 billion to be invested to build the largest Indian Road platform
Mumbai / Madrid, 3 April 2019: ROADIS and the National Investment and Infrastructure Fund (NIIF) of India today announced the creation of a platform that will invest in road projects in India. The platform will invest up to USD 2 billion of equity to target Toll Operate Transfer models, acquisitions of existing road concessions and investment opportunities in the road sector with the aim of creating a large roads platform in the country.
With 710 km of highways under ownership and management, ROADIS is the largest European highway concession manager in India and is a wholly-owned subsidiary of the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension funds.
This jointly-held platform will benefit from the expertise and value creation capabilities of both ROADIS and NIIF. With strong investment and operational expertise, the platform intends to operate the roads portfolio with the highest global standards, while creating maximum value for the shareholders.
José Antonio Labarra, CEO, ROADIS said “This agreement, which aligns with our growth strategy, strengthens our long-term commitment to India. NIIF is a partner that perfectly fits our profile given its commitment to infrastructure investment and the robust governance standards it follows”.
Sujoy Bose, MD & CEO, NIIF said, “The Indian road sector has attracted significant global capital over the last two decades and will continue to offer large investment opportunities. The road network is a key enabler for the Indian economy to grow and sustain its position as the fastest growing major economy in the world, and this provides significant upside potential for investments, while creating value for users. We are delighted to partner with ROADIS, which brings global expertise and has the ability and interest to invest substantial capital in India.”