KUALA LUMPUR, Feb 25 (Bernama) -- Canada-based OMERS Infrastructure, a global investor in infrastructure assets on behalf of OMERS, has acquired a 22.4 per cent interest in IndInfravit Trust (IndInfravit) in India, for a total consideration of INR 8.7 billion (C$160 million) (C$1 = RM3.10).
IndInfravit holds a portfolio of five operational toll road concessions which were initially constructed and operated by L&T Infrastructure Development Projects Limited (L&T IDPL), a subsidiary of Larsen & Toubro Limited (L&T), a leading construction company in India.
According to a statement, the five roads operate in some of the Indian republic’s most economically vibrant states and support the country’s growing economy.
IndInfravit is a platform well placed to play a key role in the future through additional investments in the road infrastructure in India. It is listed on the National Stock Exchange of India Limited and BSE Limited.
“The investment in IndInfravit marks not only our first infrastructure investment in India, but also demonstrates our commitment to invest in the Asia Pacific region following our office opening in Singapore in 2018,” said OMERS Infrastructure Executive Vice-President and Global Head, Ralph Berg.
“Our investment in IndInfravit aligns with our strategy to diversify our portfolio and generate value for OMERS plan members. At the same time, we will participate in the expansion of the Indian economy by investing into crucial infrastructure,” he added.
L&T IDPL sponsored the IndInfravit Trust and is also acting as its Project Manager. Its subsidiary is acting as Investment Manager for IndInfravit.
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