VINCI Highways, a subsidiary of VINCI Concessions, has signed an agreement to acquire a 51% stake in Indian motorway concession company HKR Roadways Limited. HKR has a contract with the Telangana state government for the concession to the SH1 motorway until 2041 . Upon closing, VINCI Highways will invest around €40 million of equity in the transaction.
Commissioned in 2014, the motorway is an essential connection spanning 206 km across Telangana, between its capital Hyderabad (population of 11 million) and the north-east of the state.
This acquisition has been made in partnership with the Global Iinfrastructure Partners’ (GIP) Emerging Markets Fund, with VINCI Highways and GIP holding 51% and 49%, respectively, in the concession company.
The acquisition is expected to be finalised by end-2024, subject to approval from the relevant authorities.
It will strengthen the strategic partnership first established with GIP when VINCI Airports took on majority stakes in London Gatwick airport in 2019 and Edinburgh airport in 2024.
Moreover, VINCI Highways already operates in India through its subsidiary ViaPlus, which specialises in electronic toll systems, where it employs nearly 400 people in Hyderabad.
(Pic – SnehitDesign/Dreamstime)
