The Caisse de dépôt et placement du Québec is investing $250 million in a joint venture with Mexico’s largest construction firm that will own and operate four toll roads and highways.
Under the terms of the transaction, the Caisse will own a 49% stake in the joint venture and Empresas ICA will own the remaining 51%.
Read: Caisse plans investment in Mexico
The joint venture will focus on participating in the operation and acquisition of highway and toll-road infrastructure assets in Mexico. Empresas ICA will continue to be responsible for the operation of the highways and for all maintenance requirements.
“We are creating a long-term operational platform to foster our participation in major projects that have a direct impact on the economy, while generating attractive returns for our clients,” says Macky Tall, the Caisse’s senior vice-president, private equity and infrastructure.
Also read: