MUMBAI–(BUSINESS WIRE)–Apr 20, 2022–
KKR, a leading global investment firm, and Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) today announced the signing of agreements under which Ontario Teachers’ will invest up to US$175 million (CAD220 million) in KKR’s road platform in India, which includes Highway Concessions One.
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Today, the road platform comprises a portfolio of 12 road assets, including six that are proposed to be acquired pursuant to definitive agreements that have been signed. This includes a diversified mix of toll and annuity roads, with a total length of more than 910 kilometers across 11 states, including Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Meghalayan, Odisha, Rajasthan, Tamil Nadu, Telangana, and West Bengal. The platform possesses significant potential to scale, with plans in place to acquire more assets in the future.
Bruce Crane, Managing Director, Infrastructure, Asia-Pacific at Ontario Teachers’ said: “We’re delighted to further our investments in high-quality Indian infrastructure and to collaborate with KKR on creating greater connectivity, and increased opportunities, for the country via an improved roads network.”
Hardik Shah, Partner and Head of India Infrastructure at KKR, said, “Transportation forms an important part of KKR’s infrastructure strategy in India, where the government is focused on improving connectivity between cities and there is strong demand to expand the country’s network. We are delighted to extend our relationship with Ontario Teachers’ and work together to capture the strong investment interest in the sector and contribute to the development of India’s transport infrastructure.”
The roads sector is a core area of focus for…