In a major development in the country’s construction and infra sector, Singapore's sovereign wealth fund GIC has decided to invest ₹4,400 crore in its road platform. The funds will be used for deleveraging the portfolio and equity funding for under-construction road projects of the portfolio. At completion of construction, the enterprise value of the portfolio would be approximately ₹22,500 crore. IRB and GIC plan to also explore future road sector opportunities in India together through the Private InvIT, exhibiting IRB's strength and domain expertise as a market leader in Indian roads and highways sector, said CMD, IRB, Virendra Mhaiskar. He added that this marks the third major infrastructure investment this year by the sovereign wealth fund. GIC joins pension funds and other private investors from Canada, such as the Canada Pension Plan Investment Board (CPPIB), Caisse de dépôt et placement du Québec (CDPQ) and Brookfield, which have already announced major investment plans in the infrastructure sector.
📅Published on:
09 August 2019
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