Business

Roadis, NIIF to invest $2 billion

Set up platform to tap opportunities in road projects

Roadis, a private investor and operator of transport infrastructure worldwide and the National Investment and Infrastructure Fund (NIIF) have jointly set up a platform to invest in road projects in India. The platform would invest up to $2 billion of equity targeting toll-operate-transfer models, acquisitions of existing road concessions and investment opportunities in the road sector with an aim to create a large roads platform in the country, NIIF and Roadis said in a joint statement.

“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,” said José Antonio Labarra, CEO, Roadis.

With 710 km of highways under ownership and management, Roadis is one of the largest European highway concession managers in India and is a wholly owned subsidiary of the Public Sector Pension Investment Board, one of Canada’s largest pension funds.

“The Indian road sector has attracted significant global capital over the last two decades and will continue to offer large investment opportunities,” said Sujoy Bose, MD and CEO, NIIF.

“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.”

With strong investment and operational expertise, the platform intends to operate the roads portfolio with the highest global standards, creating maximum value for shareholders, the statement said.

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Printable version | Feb 20, 2020 6:33:42 PM | https://www.thehindu.com/business/roadis-niif-to-invest-2-billion/article26726029.ece

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