Canadian fund CDPQ buys 40% in Odisha toll road for Rs 2,100 crore

The deal, which has all the approvals barring an NHAI nod and the customary regulatory approvals, is likely to be completed anytime now

Kolkata-based road developer Bharat Road Network has sold its entire 40 per cent stake in the 67-km-long Shree Jagannath Expressway in Odisha to an arm of the marquee Canadian infrastructure-focused fund Caisse de dépôt et placement du Québec (CDPQ) for Rs 2,100 crore, according to two sources.

The Srei Group, which was sent to the NCLT by the Reserve Bank of India recently, owns 30 per cent in the toll road project through one of its alternate investment funds called Trinity Investment Managers.

The deal is between Bharat Road Network and India Highway Concession Trust, one of the infrastructure investment trusts set