The Indiana Toll Road Concession Company, which operates the Indiana Toll Road, has been acquired by the IFM Global Infrastructure Fund.
IFM Investors' 100 per cent acquisition is in line with the firm’s objective of expanding its North American portfolio of assets, an IFM-issued statement said.
IFM Investors head of infrastructure, North America, Julio Garcia said: “We believe the Indiana Toll Road is a terrific and complementary addition to our existing portfolio of toll road and other infrastructure investments.”
“Under our stewardship of this vital asset to the region, the Indiana Toll Road will soon undergo a series of improvements designed to enhance customer experience,” Mr Garcia said.
IFM expects that the planned improvements will create new construction jobs and “revitalise” one of America’s major roadways, the statement said.
According to IFM, the acquisition was premised on growth expectations for both traffic and revenue.
The Toll Road Concession Company is required to operate the road and has exclusive rights to toll collection revenues for a further 66 years.
The investment is the thirtieth infrastructure asset and fourth toll road asset in the IFM Global Infrastructure Fund.
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