Cintra, Ferrovial’s toll road subsidiary, has completed the acquisition of a 24.86% stake in Indian company IRB Infrastructure Developers for €369 million. The deal has been completed after a preferential share issue by IRB Infrastructure Developers, a leading infrastructure player in India, where it manages 24 projects spanning more than 2,500 kilometers of toll road.

As a result, Ferrovial is now a significant minority shareholder with representation on the company’s Board of Directors. The deal was completed following approval by IRB’s Shareholders’ Meeting and after obtaining the pertinent statutory approvals. IRB will continue to be managed by its majority shareholder, Virendra D. Mhaiskar (his family and holding company).

Founded in 1998, IRB Infrastructure Developers is one of India’s leading infrastructure companies and a pioneer in the industry, having developed the country’s first Build-Operate-Transfer (BOT) concession.

India's infrastructure development plans have been multiplying in recent years, and the P3 model of public-private partnerships is expanding. Over €240 billion are expected to be invested in toll roads in 2022-2025, with privatizations set to exceed €18 billion, attracting a multitude of international financial and industrial investors.