Maple Highways acquires ₹6,267-cr Eastern Peripheral Expressway

Maple Highways, an Indian road investment platform by global investment group CDPQ, has acquired the Eastern Peripheral Expressway (EPE) that encircles the National Capital Region (NCR). The ₹6,267 crore purchase of the toll operate transfer (TOT) project from the National Highways Authority of India (NHAI) is the largest road transaction to occur as part of the Union Government’s Asset Monetization Programme this year.

The 135-kilometre, six-lane express highway was started in 2018 to decongest Delhi of commercial traffic. It runs through the states of Haryana and Uttar Pradesh down the eastern side of the NCR. All lighting and other utilities along the expressway are fully solar powered.

Also known as National Expressway 2, EPE is India’s first Intelligent Transport System (ITS) enabled road. It is equipped with a drip irrigation system and rainwater harvesting structures every 500 metres. It has a closed loop tolling system and 99% of its revenue is collected through electronic tolling, using the interoperable RFID tag - FASTag.

Maple Highways is a relatively new model for investor backed InvITs to own, operate and improve India’s highways. As the new custodian of EPE, it will seek to build on the expressway’s strong environmental credentials, while benefiting from CDPQ’s leading experience in the roads sector, including industry-leading highway management technology practices, and its focus on ESG.