NIIF has acquired Essel Devanahalli Tollway and Essel Dichpally Tollway through the NIIF Master Fund.

With this acquisition, NIIF has taken its first step to build its portfolio in the Roads and Highways sector. These projects will be managed by Athaang Infrastructure, NIIF’s proprietary Roads platform.

Essel Devanahalli Tollway is an arterial 22-km, six-lane toll road in Karnataka, connecting Bengaluru city and its airport. “The road, part of NH44 (erstwhile NH7), with an operational history of over six years, is well poised to cater to the growing needs of Bengaluru City and the Airport and will benefit from the growth potential of Bengaluru as a metropolitan,” said a press statement.

Essel Dichpally Tollway is a 60 km four lane toll road in the state of Telangana. “A mature asset, operational for over seven years, this road is an important link between two key industrial hubs, Hyderabad and Nagpur and serves long distance commercial traffic,” the statement added.

In addition to the road sector platform, NIIF Master Fund has also anchored platforms in the ports and logistics, renewables, and energy smart meters sectors.

Vinod Giri, Managing Partner, NIIF, said, “NIIF is pleased to announce its first investment in the roads sector. Athaang will invest in strategic assets and develop a portfolio including mature operational assets, annuities/hybrid annuities, large size expressways and highways with greenfield and brownfield expansion requirements. Athaang’s objective is to emerge as the preferred partner for stakeholders in the Indian roads sector.”

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