Cube Highways InvIT raises $630 mn from Canada’s BCI, Abu Dhabi’s Mubadala

New Delhi: Cube Highways on Wednesday announced the listing of its Infrastructure Investment Trust (InvIT), backed by investments from the British Columbia Investment Management Corporation (BCI) and Abu Dhabi's Mubadala Investment Company. The InvIT raised around $630 million to develop its portfolio of 18 toll and annuity road assets spanning 1,423.60 kilometers across India.

The first tranche of assets held by the InvIT includes 17 National Highways Authority of India (NHAI) toll roads and one NHAI annuity road asset, situated in 11 Indian states. 

The InvIT has also signed a ₹10,000 crore loan facility with the State Bank of India for refinancing its existing debt, the company said in a press statement.

This investment aligns with BCI's long-term strategy of investing in infrastructure platforms and Mubadala's aim to capitalize on the significant growth opportunity in India's road sector.

Cube Highways‘ existing investors include I Squared Capital, Abu Dhabi Investment Authority (ADIA), and Japan Highways International BV.