Actis acquires portfolio of operating Indian highway projects from Welspun Enterprises Limited

This will be the first road investment in India from Actis’ Long Life Infrastructure Fund (ALLIF), which seeks to invest in stabilised operating assets, within multiple infrastructure sectors that deliver a strong cash yield for investors. Aligning with this objective, five of the six toll roads have a Hybrid Annuity concession, whereby the concessionaire gets a fixed pay-out to ensure road availability. The concessions for the five projects are awarded by National Highways Authority of India and have received a AAA local credit rating.

The projects are being purchased from WEL, part of the Welspun Group, an infrastructure development company focusing on Road, Water and Wastewater segments. The Company also has investments in Oil & Gas Exploration. Backed by experienced management and strong parentage, WEL has a proven track record with the execution of water supply projects and over 1,000 km of road projects.

The completion of the deal is subject to certain conditions including approval from the lenders of Highway Projects and the National Highways Authority of India and the Public Works Department of Government of Maharashtra.