HICL Infrastructure (HICL) has agreed to sell its interest in an Australian water plant, netting the trust £91 million.

The £2.8 billion trust managed by InfraRed Capital has agreed to sell its 9.7% interest in the AquaSure Desalination public-private partnership project.

The project is a 30-year concession to finance, construct, operate, and maintain the largest desalination plant in the southern hemisphere and is capable of producing 444 million litres of drinking waters a day.