HIT acquires 12 road projects in Rs 9,000 crore bonanza

The Highway Infrastructure Trust (HIT) has finalized agreements with PNC Infratech and PNC Infra Holdings for the acquisition of 12 road projects totaling Rs 9,005.7 crore, marking a significant milestone in the highways sector. This strategic move positions HIT as a major player with one of the largest acquisitions in the industry.

The targeted portfolio includes 11 hybrid annuity (HAM) concessions from the National Highways Authority of India (NHAI) and a toll road concession from the Uttar Pradesh State Highways Authority (UPSHA). Encompassing approximately 3,800 lane kilometers across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka, these projects contribute to HIT's extensive infrastructure network.

Of the 12 projects, 10 are currently operational, while the remaining two are under construction and will be acquired upon completion. The integration of these assets into HIT's portfolio will be spearheaded by Highway Concessions One, the investment manager, ensuring a seamless process with a focus on high-quality asset management and adherence to Environmental, Social, and Governance (ESG) standards.

Following this transaction and other successful deals, HIT's assets under management are projected to surpass Rs 20,000 crore, solidifying its position as a key player in the highway infrastructure landscape.

News by Rahul Yelligetti