Caisse-backed investment trust acquiring India highway

The Caisse de dépôt et placement du Québec is investing in its first transportation project with the purchase of a 67-kilometre highway in India.

The asset will be the Caisse’s first acquisition through its new investment trust dedicated to road infrastructure in India, noted a press release. Project operations started in December 2011, with an initial concession period of 26 years.

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“We are thrilled with the acquisition of Shree Jagannath Expressway . . . the first asset integrated into the new [Caisse-owned] roads platform in India, which we set up and staffed in 2020,” said Emmanuel Jaclot, the [Caisse’s] executive vice-president and head of infrastructure, in the release. “This reflects our long-term confidence and interest for the sector and more broadly the Indian infrastructure market.”