French infrastructure major Vinci has agreed to acquire a portfolio of Indian toll road concessions from Macquarie Asset Management in a deal valued at approximately $1.6 billion (around ₹15,000 crore), marking a significant transaction in India’s highways sector.
The acquisition includes a portfolio of nine toll highway assets, held under Safeway Concessions, covering nearly 700 kilometres of road networks across key regions such as Andhra Pradesh and Gujarat. These stretches include sections of major corridors connecting industrial, agricultural, and logistics hubs, making them strategically important for freight and passenger movement.
The highways operate under long-term concession agreements awarded by the National Highways Authority of India (NHAI), primarily under the Toll-Operate-Transfer (TOT) model, where revenue is generated through toll collections.
This transaction represents Vinci’s re-entry into large-scale highway operations in India, as the company looks to expand its global concessions portfolio. The deal also reflects growing international investor interest in India’s road infrastructure assets, driven by stable cash flows and long-term concession structures.
Macquarie, which had acquired the portfolio in 2018 through one of India’s early TOT auctions, is exiting the investment after several years of operational scaling and value creation.
The deal is expected to achieve financial closure by the end of 2026, subject to regulatory approvals.
The acquisition underscores the continued attractiveness of India’s highways sector for global investors, particularly as the country expands its road network and increasingly leverages asset monetisation models to fund infrastructure development.