KKR acquires 7 highways assets from GIP

KKR, a global investment firm, on Monday announced the signing of definitive agreements, under which KKR will acquire Global Infrastructure Partners' (GIP) entire interest in Highway Concessions One (HC1) and seven highway assets with a total length of 487 kilometers.

HC1 is a platform in India that manages GIP's road portfolio which spans across seven States, including Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana. Through the acquisition of GIP's interest in HC1, KKR aims to help strengthen and expand India's national highway network, which serves about 40 per cent of total traffic but accounts for only two per cent of the country's road network.

This latest infrastructure investment is also in line with the government's focus on improving connectivity between cities, with the National Highways Authority of India planning to build 60,000 kms of highway in the next five years.

Hardik Shah, Managing Director and Head of India Infrastructure at KKR, said, "Roads are one of the largest and most crucial infrastructure assets in India, where the world's second-largest road network is located."