Singapore 2 June 2015
InfraCo Asia Development Pte. Ltd. (InfraCo Asia) today announced the signing of a 5-year Developer Services Agreement with Infra Capital Myanmar Pte Ltd. (Infra Capital Myanmar). Infra Capital is a Joint Venture between ReEx Capital Asia Private Limited and ADL Capital Developments Pte. Ltd. Mr Kenneth Baxter, Chairman of InfraCo Asia, said: “Through our partnership with Infra Capital we will develop and implement projects which deliver improved access to sustainable infrastructure. We believe that this will contribute directly to economic growth, benefiting individuals and communities in Myanmar and contributing to poverty reduction.” The core programme of InfraCo Asia was launched in 2010 and has a proven business model to fund early stage, high-risk infrastructure development activities. The award of the Myanmar Developer Services Agreement is an integral part of InfraCo Asia’s move to work towards ‘multi-developers’ and a co-investment programme. Present at the signing were InfraCo Asia’s Director Mr. Peter Bird, InfraCo Asia’s CEO Mr. Allard Nooy and Mr. Shalabh Singhania. Infra Capital Myanmar was represented by Mr. Yanis Boudjouher, Mr. Han Meng Chan, Mr. David Noon and Mr. Marcus Teo. The contract signing followed a competitive procurement process to select an Infrastructure Project Developer for InfraCo Asia’s Myanmar programme. The procurement process commenced on 26th September 2014 and included Pre-Qualification, Invitation to Tender, Interviews and a Best and Final Offer stage process. The notification of award was issued to the preferred tenderer on 28th April 2015.
About InfraCo Asia Development Pte. Ltd.
InfraCo Asia www.infracoasia.com is a commercially managed infrastructure development and investment company headquartered in Singapore. It aims to stimulate greater private sector investment in infrastructure in Bangladesh, Cambodia, India, Indonesia, Laos, Myanmar, Nepal, Pakistan, Sri Lanka, the Philippines and Vietnam.
InfraCo Asia funds early stage, high-risk infrastructure development activities by taking an equity stake in projects and focusing on socially responsible and commercially viable infrastructure projects. It funds projects that contribute to economic growth and social development. Throughout the development process it focuses on managing and mitigating so as to facilitate the private sector participation in the successful implementation of sustainable infrastructure projects.
InfraCo Asia’s goal is to create commercially viable and sustainable infrastructure projects that contribute to economic growth and social development.
InfraCo Asia is a company of the Private Infrastructure Development Group www.pidg.org The Private Infrastructure Development Group, established in 2002, is a coalition of donors mobilizing private sector investment to assist developing countries in providing infrastructure vital to boosting their economic growth and combating poverty.
InfraCo Asia is currently funded by three members of PIDG – Australian Department of Foreign Affairs and Trade (DFAT), the Swiss State Secretariat for Economic Affairs (SECO), and the UK Department for International Development (UKAid). InfraCo Asia’s Myanmar program is solely funded by the UK Department for International Development (UKAid).
All enquiries to:
Mr Allard M. Nooy
Chief Executive Officer
InfraCo Asia Development Pte. Ltd.
T +65 6823 8054