Canada’s Caisse de dépôt et placement du Québec (CDPQ) is buying a toll road in India from local developer Bharat Road Network and other shareholders for an unspecified sum, the pension fund’s first transportation infrastructure investment in the major Asian emerging market.
The acquisition of the Shree Jagannath Expressway is being made through CDPQ’s infrastructure investment fund, India Highway Concession Trust, the pension fund and Bharat Road Network say in a joint statement on January 22.
The Indian company is the biggest shareholder in the toll road, with a 40% stake. The identity of the other shareholders was not disclosed.
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