The first Infrastructure Investment Trust (InvIT) launched by the National Highways Authority of India (NHAI) has attracted top Canadian funds as its marquee investors.
The NHAI InvIT, which was launched on Wednesday (3 November), is part of the government’s long-term plan to monetise road assets. The NHAI has the largest share under the government’s National Monetisation Pipeline.
“NHAI is pleased to announce the launch of its InvIT as a mode to monetise road projects. The InvIT will initially have a portfolio of five operating toll roads with an aggregate length of 390 kilometers, with more roads planned to be added later. These roads are located across the states of Gujarat, Karnataka, Rajasthan and Telangana,” the Ministry of Road Transport and Highways said in a statement on Wednesday.
“NHAI has granted new concessions of 30-years for these roads,” the ministry said.
“In view of the long-term nature of the assets, the units of InvIT were placed with international and domestic institutional investors.