KKR's InvIT Highways Infra Trust Secures Rs 82.50 Bn Debt from Top Banks

20 Feb 2025 CW Team

Highways Infrastructure Trust (HIT), an infrastructure investment trust sponsored by private equity firm KKR, has secured debt financing of Rs 82.50 billion from a consortium of private sector and public sector lenders. The participating financial institutions include Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, State Bank of India, Punjab National Bank, and India Infrastructure Finance Company Limited (IIFCL).

This funding represents one of the largest debt arrangements secured by an infrastructure investment trust (InvIT) in India. Structured as a Rupee Term Loan, the financing has a tenure of up to 17 years. The funds will be utilized for acquiring TOT Bundle 16 from the National Highways Authority of India (NHAI) and a portfolio of 12 road assets from PNC Infratech.

The agreement between KKR and PNC, announced in January 2024, is valued at approximately Rs 90 billion, making it one of the most significant transactions in India's road sector. The acquired portfolio consists of 11 hybrid annuity model (HAM) roads from NHAI and one toll road from the Uttar Pradesh State Highways Authority, covering approximately 3,800 lane kilometre across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka.

Additionally, HIT is in the process of acquiring NHAI’s toll-operate-transfer (TOT) Bundle 16 for Rs 66.61 billion. This bundle includes a 251-km stretch on the Hyderabad-Nagpur corridor of NH-44 in Telangana.

To support these acquisitions, HIT’s sponsor, KKR, along with its second-largest shareholder, the Canadian pension fund Ontario Teachers’ Pension Plan (OTPP), will invest up to Rs 55 billion in equity. Currently, HIT manages assets worth Rs 170 billion, covering 16 project stretches and a total of 4,640 lane kilometre across nine states.

News source: Money Control

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..