Maple Highways Acquires Eastern Peripheral Expressway In Rs 6,267 Cr
The acquisition of the Toll Operate Transfer (TOT) project from the National Highways Authority of India (NHAI) is the largest road transaction that has taken pace this year. The six-lane express highway which stretches to 135-km is operative since 2018 which was designed to decongest Delhi’s commercial traffic
The Maple Highways said that it has acquired the Eastern Peripheral Expressway (EPE) in a Rs 6,267-crore deal. It is a dedicated India road investment platform of Canada-based pension fund CDPQ, which encircles the National Capital Region (NCR), on 11 November.
Under the asset monetisation programme by the government this year, the acquisition of the Toll Operate Transfer (TOT) project from the National Highways Authority of India (NHAI) is the largest road transaction that has taken pace.
The six-lane express highway which stretches to 135-km is operative since 2018 which was designed to decongest Delhi’s commercial traffic. It runs through Haryana and Uttar Pradesh, covering the eastern side of the NCR.
Maple Highways and CDPQ said that in order to explore more opportunities they continue to offer long-term shareholder value by sourcing mature toll road assets with long residual lives, established traffic and stable cash flows.
In the world, CDPQ is the second-largest institutional investor in infrastructure. It possess net assets of cash available for distribution to 45 billion in its infrastructure portfolio, including in India.
India still remains to be strategically important market for CDPQ considering country’s long-term growth potential and infrastructure needs, according to the fund.
