India
3 concessions
4 states connected
416 km under our management
Projects
We are one of Europe's leading managers of infrastructure concessions in India, with a total network of 416 km of roads, divided into three assets.
We have consolidated our position in the country thanks to our knowledge and experience in asset management gained over the years. We also have a network of strategic alliances that supports our activity in terms of business development.
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NH-2
VARANASI-AURANGABAD
Awarded in 2010, this project is part of the Varanasi-Aurangabad section of the NH-2, a 192-km segment with six lanes in the states of Uttar Pradesh and Bihar.
This stretch is on the Delhi - Kolkata highway, and connects the cities of Aurangabad (in Bihar) and Varanasi (in Uttar Pradesh). Varanasi is one of the main pilgrimage sites in India. The area is also surrounded by sand and coal mines near the factories, which generate significant commercial traffic.
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NH-6
HAZIRA-MAHARASTRA
Awarded in 2009, this project is part of the Gujarat-Hazira section of NH-6, a 131-km segment with four lanes in the state of Gujarat.
It connects the city of Surat, the eighth most populous city in India, with the port of Hazira, which is one of the main industrial and commercial ports along the industrial corridor between Delhi and Mumbai, and with the Maharastra border.
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NH-8
KISHANGARH-BEAWAR
Awarded in 2009, this project is part of the Kishangarh-Ajmer-Beawar section of the NH-8, a 93-km segment with six lanes in the state of Rajasthan.
This stretch is on the Ajmer-Jaipur highway, one of the most important roads in Rajasthan. India’s main limestone and cement producers, as well as other construction material companies are located in this region.
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India is a key market for our growth
India is a key market for our growth. We are a leading highway operator with proven experience on the ground and a strong reputation in the country thanks to our strategic growth, partnerships and operational capability. All assets have reached significant milestones in the project lifecycle.
In 2023 we reached some major milestones:
• NH2: The financing of all capital investments was closed
• NH6: The single agreement and restructuring of all debt has been successfully concluded. In addition, the court granted an additional extension of 959 days, which is under review by the Supreme Court.
• NH8: The first refurbishment cycle of the entire stretch was completed during the year, marking another milestone in the operation and management of assets in India.
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India has the second largest road network in the world
With a total of 6.37 million kilometres of national highways, urban and rural roads carry 65% of all goods in the country and 90% of all passenger traffic. Although national motorways account for just 2% of the total road network (which includes urban and rural roads), they are used to transport 40% of goods and passengers.
Between 2014 and 2023, the length of national highways has increased by 60%, from 91,000 km to 145,000 km in 2023. The Government has set the objective of building 200,000 km of national highways for 2025. India will witness record road construction, and the national highway network is expected to grow by 37% over the coming years.
The 23-24 Union Budget has earmarked more than 125 billion euros to infrastructure, an increase of 33% over the previous year. 30% of that budget is dedicated to roads, ensuring continuous infrastructure improvements, coupled with various initiatives in the sector and high government investment through programmes such as the National Infrastructure Plan (NIP), the National Monetisation Plan (NMP), etc.
Traffic on national highways continues to grow at a rate of 4-5% during FY 2023-24, along with a significant increase in toll rates, boosting motorway operators' revenues.
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*(IN EUR M)
NH2
2023
2022
Revenue from traffic62,6
58,4
EBITDA44,6
48,8
EBT22,2
28,9
Net income4,2
18,8
Operating CF43,9
34,9
*(IN EUR M)NH6
2023
2022
Revenue from traffic29,0
26,6
EBITDA20,8
21,9
EBT126,7
-12,1
Net income82,4
-8,9
Operating CF21,1
17,2
*(IN EUR M)NH8
2023
2022
Revenue from traffic28,2
28,0
EBITDA21,1
17,1
EBT0,5
-5,7
Net income-5,0
-4,0
Operating CF18,2
11,8
VALUE IN COMMUNITIES
HOW DO WE CREATE VALUE IN COMMUNITIES WHERE WE OPERATE?
Our assets in India have created a very significant volume of direct and indirect employment in neighbouring communities. Thanks to the high-quality transport network provided by our roads, communities in the areas of operation improved their access to infrastructure and basic socio-economic services such as markets, schools and health centres, substantially reducing the time and cost of travel.
During 2023, awareness campaigns have been deployed on the occasion of National Road Safety Month and National Road Safety Week, as well as campaigns on occupational safety and environmental protection:
17 activities / 683 hours invested
Health check-up camps
• General Health Camp
• General Eye Camp
• Blood Donation Camp
• International Yoga Day (21 June 2023)
8 activities / 353 hours invested
Environmental programs
• Tree planting drive: Over 390 saplings were planted in the median and nearby government schools around the projects.
5 activities / 2.108 hours invested
Road Safety
• Display of banners, distribution of leaflets, keyrings and safety stickers with safety messages
• Audiovisual campaigns and motorcade rally
• Reflective stickering of vehicles
5 activities / 120 hours invested
Other activities
• Distribution of gifts and stationery items among children of Government Girls Middle School
• Road infrastructure (repair activity for local community) - Re-carpeting of blind School Campus bituminous road.
• General community engagement
• Educational workshops for students.
• Distribution of leaflets
• Sticking reflective tapes on road users’ vehicles.
• Public programmes for road safety awareness amongst villagers/road users.
