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Maple Infrastructure Trust (MIT) is expanding its toll road portfolio with the acquisition of five key projects across West Bengal, Odisha, Karnataka, Maharashtra, and Chhattisgarh. Covering over 400 km, these assets include six-lane and four-lane tollways developed under NHAI concession agreements. Backed by CDPQ Infrastructures Asia and 360 ONE Private Equity Fund, MIT's move underscores its strategy to strengthen its road asset base. The acquisitions, cleared by the CCI, are part of a broader trend in infrastructure trusts leveraging global partnerships. This step enhances MIT's leadership in India's highway sector and aligns with the nation's infrastructure development goals.
Maple Infrastructure Trust (MIT) is set to make a significant leap in India's infrastructure sector with the acquisition of five major toll road projects across key states. This move aligns with MIT's strategy to bolster its footprint in the toll road and highway segment, emphasizing its role as a leading infrastructure trust in the country. Advertisement
The projects, spanning over 400 kilometers, are located in states such as West Bengal, Odisha, Karnataka, Maharashtra, and Chhattisgarh. These assets include both six-lane and four-lane toll roads, developed under concession agreements with the National Highways Authority of India (NHAI). By acquiring these projects, MIT is poised to enhance its portfolio-a step that underscores its commitment to expanding its road asset base.
The acquisitions will be executed through Maple Infra InvIT Investment Manager Pvt Ltd, MIT's investment arm. The targeted assets include Ashoka Dhankuni Kharagpur Tollway Ltd, Ashoka Sambalpur Baragarh Tollway Ltd, and Ashoka Highways (Bhandara) Ltd, among others. These assets will provide MIT with a robust foundation to address the increasing demands of India's road infrastructure.
The deal also involves strategic collaborations with prominent stakeholders, including CDPQ Infrastructures Asia III Inc., a global investment arm of Quebec's pension funds. Additionally, Maple Highways Pte Ltd and 360 ONE Private Equity Fund are key players in supporting this acquisition. Such partnerships highlight MIT's ability to attract international investment and establish global linkages in the infrastructure domain.
The proposed transactions have been notified to the Competition Commission of India (CCI) under the Combination Regulations 2024. With the relevant market for road assets clearly defined, the acquisition is unlikely to raise competition concerns, ensuring a seamless approval process.
MIT's acquisition of these toll road projects is expected to bring operational efficiencies and improve the overall performance of the acquired assets. Additionally, it cements MIT's position as a dominant player in India's toll road and highway sector. The strategic addition of these assets will also contribute to the broader goal of enhancing India's transport infrastructure, which is critical for economic growth.
The move reflects a growing trend of infrastructure trusts in India diversifying their portfolios and leveraging private equity partnerships to fund large-scale projects. Such developments are crucial for meeting the country's ambitious infrastructure targets under government initiatives like Bharatmala.
As India's infrastructure sector continues to grow, acquisitions like these set the tone for the future of toll road management and investment. For MIT, this step represents not just an expansion of its portfolio but also a commitment to playing a key role in the nation's infrastructure development. With global investors backing its ventures, MIT is well-positioned to navigate the evolving landscape of India's road and highway sector, ensuring long-term sustainability and growth.
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