In its first deal in the roads & highways segment, Macquarie-SBI Infrastructure Fund (MSIF) has invested $150 million in the portfolio of projects held by Ashoka Concessions Ltd, an outfit of Ashoka Buildcon.
The seven toll roads portfolio held in Ashoka Concessions is approximately 630 km and represents a balanced mix of operating and under construction toll roads. Of the seven roads, six are part of the national highway network and one is a state road. The $150 million investment will be used to develop the under construction road projects in ACL.
Ashoka Buildcon currently owns and operates 20 road projects on a public private partnership basis. The MSIFfunding will help Ashoka Buildcon meet equity commitment for its projects under development.