- Eastern Peripheral Expressway surrounds the National Capital Region, easing continual site visitors and emissions in Delhi.
- Largest toll highway transaction for India’s Asset Monetization Programme in 2022.
- Leading home institutional and household workplaces have co-invested alongside CDPQ, underlining curiosity in highways as a high-yielding long-term asset class.
MUMBAI, India, Nov. 11, 2022 /PRNewswire/ — Maple Highways, a devoted India highway funding platform created by international funding group CDPQ, right this moment introduced it has accomplished the acquisition of the Eastern Peripheral Expressway (EPE) that encircles the National Capital Region (NCR).
Valued at Rs. 6,267 crore, the acquisition of the Toll Operate Transfer (TOT) undertaking from the National Highways Authority of India (NHAI) is the most important highway transaction to happen as half of the Union Government’s Asset Monetization Programme this yr.
The 135-kilometre, six-lane specific freeway has been in operation since 2018 and was designed to decongest Delhi of business site visitors, and runs by the states of Haryana and Uttar Pradesh down the jap facet of the NCR. All lighting and different utilities alongside the expressway are totally solar-powered.
Popularly often known as National Expressway 2, EPE is India’s first Intelligent Transport System (ITS) enabled highway. It is supplied with a drip irrigation system and rainwater harvesting buildings each 500 metres. It has a closed loop tolling system and 99% of its income is collected by digital tolling, utilizing the interoperable RFID tag, identified to thousands and thousands of drivers as FASTag.
For CDPQ, the acquisition is a significant step ahead in constructing a scaled portfolio of strategically situated, long-term income producing highway belongings in India. Earlier this yr, Maple Highways additionally accomplished the acquisition of the Shree Jagannath Expressway, a 67-kilometre toll highway undertaking from Bhubaneswar to Chandikhole, in Odisha, jap India.
Indian highways symbolize a big and rising market alternative, with a strong pipeline that features the federal government’s ongoing highway monetization programme, TOT, a hybrid annuity mannequin of toll roads geared toward accelerating public-private partnerships, in addition to Build-Operate-Transfer (BOT) fashions.
In creating one of India’s first impartial, devoted highway Infrastructure Investment Trusts (InvIT), CDPQ has additionally chosen to deliver home capital alongside itself, drawing curiosity from main buyers similar to IIFL AMC and the household workplace of the Taparia household of Famy Care Group in an rising infrastructure asset class in India.
Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure, CDPQ, stated: “Quality highways ensure the Indian economy continues to move and grow. Founded by CDPQ in 2021, Maple Highways combines road infrastructure expertise and a commitment to ESG, and brings together assets that offer long-term value to our investors. As the reconfiguration of global supply chains accelerates and the volume of goods increases in India, we look forward to further developing our roads portfolio.”
Anup Vikal, CEO, Maple Highways added: “Maple Highways is a truly differentiated platform, a relatively new model for investor-backed InvITs to own, operate and improve India’s highways. As the new custodian of EPE, Maple Highways will seek to build on the expressway’s strong environmental credentials, while benefiting from CDPQ’s leading experience in the roads sector, including industry-leading highway management technology practises, and its sharp focus on ESG.”
Maple Highways and CDPQ proceed to discover alternatives that provide long-term shareholder worth by sourcing mature toll highway belongings with established site visitors, lengthy residual lives and secure money flows. CDPQ is the second-largest institutional investor in infrastructure globally, with web belongings of CAD 45 billion in its infrastructure portfolio, together with in India, which stays a strategically essential marketplace for CDPQ given the nation’s long-term progress potential and infrastructure wants.
About Maple Highways
Maple Highways is an institutionally owned, professionally managed platform focussed on the roads sector in India, arrange and sponsored as an infrastructure funding belief (named Indian Highway Concession Trust (IHCT)). IHCT’s sponsor, funding supervisor and undertaking supervisor are wholly owned subsidiaries of CDPQ, a worldwide funding group. The platform homes two belongings totalling 1200 lane kilometres. The platform is accredited because the first InvIT to bid for NHAI TOT belongings auctioned and win it. Maple Highways is pushed by a mission to create a long-term yield producing roads platform specializing in sustainability, operational excellence, and consumer expertise.
About CDPQ
Caisse de dépôt et de placement du Québec (CDPQ) is a long-term institutional investor that manages funds of its depositors, primarily Québec’s public and para-public pension and insurance plans. CDPQ invests globally in main monetary markets, together with private and non-private fairness, fastened revenue, infrastructure and actual property. As of June 30, 2022, CDPQ held roughly CAD 391.6 billion in web belongings. CDPQ is rated investment-grade with a secure outlook by the credit standing businesses, specifically AAA (DBRS), AAA (S&P), Aaa (Moody’s) and AAA (Fitch).
Photo: https://mma.prnewswire.com/media/1944550/CDPQ_Image_1.jpg
Photo: https://mma.prnewswire.com/media/1944551/CDPQ_Image_2.jpg
