InfraCo Asia Signs Developer Service Agreements for South Asia and South East Asia: Welcomes New Partners Equicap, Infunde
Singapore, Friday 22 April 2016
InfraCo Asia Development Pte. Ltd. (IAD) is pleased to announce that it has signed Developer Services Agreements with Equicap Asia Private Limited (Equicap) for its South Asia Developer Services Program and with Infunde Development Private Limited (Infunde) for its South East
Asia Developer Services Program.
IAD held a signing ceremony in its Singapore office on Thursday 21 April.
Following the conclusion of the competitive tender process that was first advertised on 24 August 2015, InfraCo Asia selected Equicap and Infunde as the preferred tenderers to provide (pre-financial close) project origination, financing and infrastructure development services.
InfraCo Asia CEO, Allard Nooy, said the organisation was pleased with the level of interest and quality of tenders received. There were over 60 respondents during the expression of interest phase, out of which ten were shortlisted to submit tenders.
“InfraCo Asia is looking forward to working closely with these two new developer teams. Based on their tender submissions and the experience of individual members from both teams, we have very high expectations of Infunde and Equicap to originate, structure and deliver on the pipeline of projects in our focus sectors,” Mr Nooy said.
“With a total of three developer teams now partnering with InfraCo Asia, we are embarking on our next growth phase in accordance with our amended business model that involves working with these multiple developer teams.” He said.
IAD Board Member and Procurement Committee Chair, Clive Turton, said it was extremely encouraging to see the broad spectrum of interest in the tender process.
“It was not an easy choice to make, we had an extremely high calibre of candidates with strong track records of closing deals.” Mr Turton said.
“I’d like to thank the procurement committee for their very hard work throughout this rigorous process.
We look forward to taking sustainable infrastructure projects forward in regions where they are much
Developer teams understand regional challenges
Equicap Asia is headquartered in Singapore, with presence in New Delhi, Nepal, Bangladesh and Pakistan, and Infunde Development has headquarters in Singapore, with local presence in Cambodia, Indonesia, Laos, the Philippines and Vietnam. Each team has a strong track record in Asia’s infrastructure and energy sector, and a keen understanding of the challenges associated with earlystage, high risk development projects.
“We are delighted to be selected as part of InfraCo Asia’s South East Asia Developer Services Program, particularly noting InfraCo Asia’s established track-record and continued commitment to fund early-stage developments in the region,” Infunde Managing Director, Mason Wallick, said. “Drawing on a multi-disciplinary team of recognised industry leaders that have developed a multitude of infrastructure investments in South East Asia, we believe our strong regional experience is ideally suited to support InfraCo Asia’s growth initiatives and to enhance private sector participation.” He said.
Vivek Gupta, Equicap’s Founder and Managing Director, said the company is excited to be part of the InfraCo Asia Developer Services Program. “We look forward to supporting InfraCo Asia in its objective to develop sustainable, socially responsible and commercially viable infrastructure projects in South Asia,” Mr Gupta said. “Equicap offers a breadth as well as depth of understanding of the infrastructure landscape and business requirements in the South Asia region, alongside hands-on project development experience across the region. We understand the requirement for expert development skills during the early stages of a project. We aim to create a long-lasting, positive impact on the environment and society through this association.”
About InfraCo Asia
InfraCo Asia Development Pte Ltd (InfraCo Asia) is a commercially managed infrastructure development and investment company of the Private Infrastructure Development Group (PIDG) headquartered in Singapore. It aims to stimulate greater private sector investment in infrastructure in South and South-East Asia. 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, sustainable infrastructure projects that contribute to economic growth, social development and poverty reduction. InfraCo Asia is currently funded by three members of PIDG – the Australian
Department of Foreign Affairs and Trade (DFAT), the Swiss State Secretariat for Economic Affairs (SECO) and the UK Department for International Development (UKAid).
For more information, please visit www.infracoasia.com and www.pidg.org.
All enquiries to:
Mr Allard M. Nooy
InfraCo Asia Development Pte. Ltd.
T +65 6823 8050