CPP Investments makes $43 million follow-on investment in NHAI InvIT

CPP Investments has announced a Rs 3.57 billion (CAD 60 million or $43 million) equity investment in the National Highways Infra Trust. Following this transaction, CPP Investments will continue to hold 25 per cent of the units in the InvIT. The acquisition will extend the InvIT’s portfolio of toll roads from five to eight – all of which have been acquired from NHAI. The current portfolio covers roughly 636 km across seven Indian states: Guja­rat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and Telangana.