Global investment firm KKR on Monday signed definitive agreement to acquire Global Infrastructure Partners’ (GIP) entire interest in Highway Concessions One (HC1), the company said in a statement.
HCI manages and operates seven road assets in India. It currently operates a portfolio of national and state highway assets with a total length of 487 kilometres across seven states: Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu and Telangana.
“Roads are one of the largest and most crucial infrastructure assets in India, where the world’s second-largest road network is located. Rapidly increasing passenger and commercial vehicle traffic has driven the strong demand to expand the country’s road network even further and the reciprocal need for investment in the sector.
This is why the transportation sector is a key area of our infrastructure strategy in India. We are truly excited to invest in a high-quality platform and through HC1 play a part in India’s transport infrastructure,” said Hardik Shah, Managing Director and Head, India Infrastructure, KKR.
The statement further said that KKR has made the investment from the KKR Asia Pacific Infrastructure Fund. This is KKR’s third investment in India from the fund and first investment in Asia’s transport sector.