The Caisse de dépôt et placement du Québec (CDPQ) becomes the owner of a toll highway in the state of Odisha in India.
Quebeckers’ stockings thus take over the entity responsible for operating and maintaining this 67-kilometer toll road link between Bhubaneswar and Chandikhole in addition to becoming its sole shareholder.
This transaction was carried out through the India Highway Concession Trust, an infrastructure investment trust established by the Caisse. This is the first acquisition by this structure dedicated to road infrastructure in India.
“We are delighted with the acquisition of Shree Jagannath Expressway. This will be the first asset integrated into the new CDPQ road platform in India, which we set up and staffed in 2020. This reflects our confidence and our long-term interest in the sector, and more broadly towards the Indian infrastructure market, ”said Caisse Senior Vice-President and Head of Infrastructure, Emmanuel Jaclot, in a press release.
The amount paid by the Caisse remained confidential.
This toll motorway has been in service since December 2011 with an initial concession period of 26 years.