Maple Infrastructure Trust Broadens Road Asset Portfolio

Maple Infrastructure Trust Broadens Road Asset Portfolio

Maple Infrastructure Trust (MIT), a prominent leader in India’s road infrastructure sector, has unveiled ambitious plans to acquire five major toll road projects, marking a significant milestone in its expansion strategy. Acting through its investment arm, Maple Infra InvIT Investment Manager Private Limited, MIT is poised to acquire:

• Ashoka Dhankuni Kharagpur Tollway Limited (ADKTL)
• Ashoka Sambalpur Baragarh Tollway Limited (ASBTL)
• Ashoka Belgaum Dharwad Tollway Limited (ABDTL)
• Ashoka Highways (Bhandara) Limited (AHBL)
• Ashoka Highways (Durg) Limited (AHDL)

Expanding Across Key Regions

This strategic acquisition will bolster MIT’s portfolio, spreading its road assets across critical states such as West Bengal, Odisha, Karnataka, Maharashtra, and Chhattisgarh. These projects, developed under concession agreements with the National Highway Authority of India (NHAI), include four- and six-lane toll roads stretching over 400 kilometers. The move underscores MIT’s dedication to advancing India’s road infrastructure and complements its long-term growth vision under the Securities and Exchange Board of India (SEBI) Infrastructure Investment Trusts framework.

Collaborations and Stakeholders

The acquisition involves strategic collaborations with global and domestic stakeholders, including:

• CDPQ Infrastructures Asia III Inc., the global investment arm of Québec’s pension funds.
• Maple Highways Pte. Ltd.
• 360 ONE Private Equity Fund, managed by 360 ONE Alternates Asset Management, known for its diversified investment expertise in India and beyond.

While the transaction is unlikely to raise competition concerns, the Competition Commission of India (CCI) has been notified for evaluation under the Combination Regulations 2024. The relevant market for assessment is the "market for road assets."

Strengthening India’s Infrastructure

MIT’s strategic consolidation comes at a crucial time when infrastructure development is regarded as a cornerstone for economic growth. The acquisition not only enhances MIT’s operational efficiencies but also cements its leadership in India’s toll road and highway sector. This move sets the stage for future investments and strengthens India’s connectivity across key economic corridors.