Canada Pension arm invests Rs.2,080-Cr in NHIT

Canada Pension Plan Investment Board (CPP Investments) has made a follow-on investment of INR 2,080 crore (C$346 million) in the units of National Highways Infra Trust (NHIT), an Infrastructure Investment Trust (InvIT) sponsored by the National Highways Authority of India (NHAI). This marks the third follow-on investment by CPP Investments since its initial investment at the inception of NHIT in 2021.The proceeds will be used by NHIT to partially fund the acquisition of eleven operating toll roads currently owned by NHAI. Following this investment, CPP Investments will continue to hold 25% of the units in NHIT, and CPP Investments’ total investment in NHIT will increase to INR 57.6 billion (C$960 million).The acquisition will expand NHIT’s portfolio from 15 to 26 operating toll roads, all of which have been acquired from NHAI.