Canada’s PSP is said to mull $1.5 billion sale of roads in India

The Public Sector Pension Investment Board (PSP Investments) is considering a potential sale of its road assets in India, possibly for a valuation of $1.5 billion, according to sources familiar with the matter. This exploration is reportedly being conducted in collaboration with a financial advisor, with the specifics of the decision remaining private.

The road assets, which are part of PSP Investments' global road investment platform Roadis, were established in 2016 and have been a significant contributor to the company's growth. Although the Indian road assets are not the only ones under consideration, with projects in Brazil, Mexico, Spain and the US also being assessed, the focus of the current deliberations remains primarily on India.

Early interest has been observed from other investment firms and industry players, but the process is still in its infancy and no definitive decisions have been made. A representative for PSP Investments declined to provide further comment on the matter. As of the end of March, the fund had assets under management valued at C$320.6 billion ($230 billion).