Despite a slight slowing of momentum in the second quarter, the infrastructure fundraising revival is still on course, with the amount of capital raised in the first half of this year almost reaching the total for the whole of 2009.
The 53km road in the south of Finland is part of European Road 18 and will require capex of €285m. Part of the concession, which will last for 15 to 25 years, will require greenfield construction with the contract to be backed by government availability payments.
A report from equity analysts at RBS Equities in Sydney has called for the national government to take the lead in driving forward infrastructure projects in Australia as the state governments implement cutbacks.
The IFC has sold to Mizuho a funded risk participation in US dollars for a portion of an Indian rupee-denominated loan used to finance India’s first electricity transmission project. The deal is expected to pave the way for foreign banks to help fund projects in emerging markets without any need to fund in local currency.
A subsidiary of the Indian engineering business has become an Infrastructure Finance Company, enabling it to make infrastructure loans on favourable terms. Indian infrastructure company IDFC recently took the same step.
The French brownfield fund has reached final close on schedule at €1.08bn, surpassing its original €1bn target by €80m. Just under half of Cube’s investors come from North America with 33% from France.
The Egyptian private equity and infrastructure investment firm will receive up to $100m in commitments from the Overseas Private Investment Company (OPIC) after responding to a ‘call for proposals’ from the latter towards the end of last year.
Prime Minister Vladimir Putin has announced the government wants ‘to turn aviation infrastructure into a prospective and attractive platform for investment’ following the success of the public-private partnership to modernise Pulkovo Airport.
This week’s unveiling of a possible buyout of Abertis brings to mind football and chess, writes Bruno Alves.
This week’s unveiling of a possible buyout of Abertis brings to mind football and chess.
The firm, which has more than £2bn in cash and undrawn facilities, is tentatively increasing its investment pace.
In a half-year trading update, the UK construction firm has announced a better-than-expected order book while acknowledging the uncertainties arising from government cuts.
An agreement on the adoption of the Alternative Investment Fund Managers directive has been postponed until September.
The stakeholders have confirmed discussions with CVC for the private equity firm to become a shareholder in Abertis, which may involve a buyout of the developer. Reports suggest CVC will inject the majority of the equity needed for the buyout vehicle with debt coming from a bank club led by Mediobanca. The buyout could be worth over €25bn.
While the government says half a trillion dollars of private sector investment in infrastructure will be needed if India is to meets its development goals, financial sponsors say fundable projects with scale are still hard to find.