KKR, Ontario Teachers Invest Rs 5,500 Crore in HIT

15 Jan 2025 CW Team

Global private equity giant KKR and the Ontario Teachers' Pension Plan (Ontario Teachers') have committed a total of approximately Rs 5,500 crore (about $660 million) in the Highways Infrastructure Trust (HIT), an infrastructure trust that owns and operates highways across India. The announcement was made through a stock exchange filing.

Of the total investment, KKR's investment arm, Nebula Asia Holdings II Pte. Ltd., will contribute Rs 3,756 crore, while Ontario Teachers' will invest Rs 1,695 crore. KKR, which is the sponsor of HIT, and Ontario Teachers', a key shareholder, will channel this capital into supporting HIT's most recent acquisitions.

In a strategic move, HIT last year agreed to acquire 12 road assets from PNC Infratech and its subsidiary, PNC Infra Holdings, at an enterprise value of Rs 9,006 crore. This investment is set to further enhance HIT’s growing portfolio, which has already expanded to 15 assets, covering approximately 3,580 lane kilometres across nine states in India.

KKR’s involvement in India’s road sector began in 2021 when it acquired Highway Concessions One (HC1) and seven highway assets spanning 487 kilometers from Global Infrastructure Partners. It also acquired the Navayuga Udupi Tollway, a toll road located in Hyderabad, for an enterprise value of Rs 924 crore.

Since its establishment in 2022, HIT has been a key player in India’s highway infrastructure development. The trust continues to attract significant investments, further strengthening its position in the Indian infrastructure market. Meanwhile, Caisse de dépôt et placement du Québec (CDPQ), a Canadian pension fund, is in early discussions to raise capital for its own infrastructure trust, Maple Infrastructure Trust, which also targets India’s growing road sector.

Infrastructure Energy

23 Oct 2025

GAIL to Set Up Bengaluru CBG Plant Under New Concession Pact

GAIL (India) Limited has signed a 20-year concession agreement with the Bengaluru City Municipal Corporation (BBMP) to set up a compressed biogas (CBG) plant in the city. The project, expected to produce around 10 tonnes of CBG daily, will utilise municipal solid waste as feedstock, contributing to clean energy generation and efficient waste management. The CBG produced will be used in GAIL’s City Gas Distribution network to promote cleaner fuel usage. The initiative aligns with the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme and GAIL’s broader ..

Uttarakhand HC Lifts 31-Year Ban on ONGC’s Contractual Hiring

The Uttarakhand High Court has lifted a 31-year-old ban on the Oil and Natural Gas Corporation (ONGC) from hiring contractual workers, a restriction imposed in 1993. The decision enables ONGC’s Dehradun establishment to employ personnel on a contractual basis to meet operational requirements. The long-standing prohibition had limited ONGC’s ability to fill vacancies in its technical and administrative departments, often leading to project delays and higher dependence on outsourcing. With the court’s directive, the public sector enterprise can now proceed with temporary recruitments whil..

JSW Energy’s Utkal Unit Bags 400 MW, 25-Year Power Supply Deal

JSW Energy Limited announced that its subsidiary, JSW Energy (Utkal) Limited, has secured a Letter of Award (LoA) from Karnataka’s Power Company of Karnataka Limited (PCKL) for the supply of 400 MW of electricity for 25 years. The agreement is part of a competitive bidding process for long-term procurement of power to meet the state’s growing energy demand. The 400 MW capacity will be supplied from JSW Energy’s upcoming thermal power project in Odisha. This development strengthens JSW Energy’s presence in the southern market and aligns with its strategy to enhance long-term contracte..