Actis expands Indian roads portfolio, acquires NHAI HAM concessions

13 Feb 2024 CW Team

On February 8, Actis, an emerging markets infrastructure investor, announced its acquisition of a portfolio comprising four Hybrid Annuity Model (HAM) road assets from Patel Infrastructure Ltd, a construction firm.

Actis has already finalised the acquisition of two completed assets, with plans to acquire an additional two upon completion, according to a statement. While the financial details remain undisclosed, Actis emphasised the attractiveness of these assets, awarded by the National Highways Authority of India (NHAI), due to their availability-based fixed revenues with interest rate indexation features.

Highlighting the substantial opportunities in the Indian market, Actis considers the roads sector a key focus for its investment strategy. This acquisition marks the second roads portfolio in India for Actis through its Long-Life Infrastructure Fund, following the June 2022 acquisition of six operating highway toll road projects from Welspun Enterprises.

Adrian Mucalov, Partner and Head of Long-Life Infrastructure at Actis, expressed optimism about the expansion in India, emphasising the significant potential in both the energy and infrastructure sectors. Actis aims to address critical infrastructure needs in growing markets, particularly where governments seek foreign investment to meet demands. The investment in transport systems, such as toll roads, aligns with Actis' vision for enhancing road efficiency, safety, and environmental sustainability, ultimately fostering connectivity and growth potential.

The statement outlined Actis' commitment to improving road safety, implementing electronic tolling, utilising recycled asphalt for major maintenance, and incorporating solar PV on toll plazas and office buildings as part of its strategy.

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