Finance: Asia Pacific

Developments in transport finance, PPP, debt, equity, M&A deals from Asia Pacific

• Kazakhstan government repays Astana LRT debt

  November 11, 2019
  The Government of Kazakhstan has announced that it has repaid its debt to China Development Bank to develop the Astana light rail transit (LRT) system, an upcoming LRT system in Nur-Sultan (formerly known as Astana).

• Penang government to establish SPV to finance LRT projects, Malaysia

  November 8, 2019
  The state government of Penang has announced plans to establish a special purpose vehicle (SPV) to issue bonds to finance the light rail transit (LRT) projects in the state.

• Airlift raises USD12 million, Pakistan

  November 2, 2019
  Pakistan-based mass transit startup Airlift has raised USD12 million in Series A funding, making it the largest round of seed funding secured by a startup in Pakistan.

• Chinese companies to invest USD332 million in Makati Subway, Philippines [free access]

  October 31, 2019
  Philippines-based Philippine Infradev Holdings has signed agreements with China-based Hui Gao Investments Development Limited and Shanghai Mintu Investments to raise USD332 million for the Makati Subway project, the first underground rail project and the largest public–private partnership (PPP) project in the city.

• Beijing-Shanghai High-Speed Railway Company to launch IPO, China [free access]

  October 26, 2019
  The Beijing-Shanghai High-Speed Railway Company, the operator of a high speed rail (HSR) line connecting Beijing and Shanghai, has submitted a prospectus to the China Securities Regulatory Commission to launch an initial public offering (IPO) in the first quarter of 2020.

• Adani Enterprises launches subsidiary for urban rail projects, India

  October 16, 2019
  India-based conglomerate Adani Enterprises has established Adani Metro Transport Limited (AMTL), a wholly owned subsidiary, to execute urban rail projects.

• Taiwan government to invest USD972.4 million in electric buses

  October 13, 2019
  Taiwan’s Ministry of Transportation and Communications has announced plans to invest USD972.4 million (TWD30 billion) to deploy an all-electric bus fleet in the country by 2030.

• Gamuda to acquire stake in Martinus Rail, Australia

  October 10, 2019
  Malaysia-based Gamuda has announced plans to acquire a 50 per cent stake in Australia-based Martinus Rail.

• SeaLink Travel to acquire Transit Systems, Australia [free access]

  October 9, 2019
  Australia-based tourism and travel company SeaLink Travel Group has announced plans to acquire Transit Systems, a public bus operator in Australia.

• KEXIM bank grants loan for Addis Ababa BRT, Ethiopia

  September 26, 2019
  The Export-Import Bank of Korea (Exim Bank) has signed a USD63 million loan agreement with Ethiopia for the construction of a 11.05-km long bus rapid transit (BRT) corridor in Addis Ababa, connecting Torhailoch Square with Addis Ababa Bole Airport.

• Stadler and PT Inka enter into JV, Indonesia [free access]

  September 20, 2019
  Switzerland-based Stadler has entered into a joint venture (JV) with Indonesia-based PT INKA to develop and manufacture rail vehicles using modern aluminium technology in Indonesia.

• CRRC to acquire stake in Anhui Ankai Automobile, China

  September 18, 2019
  Anhui Jianghuai Automobile Group and Anhui Provincial Investment Group Holding have signed a letter of intent to sell a 21.3 per cent stake in China-based manufacturer Anhui Ankai Automobile to CRRC Investment Company Limited (CRRC).

• Gyeonggi-do to invest in bus-based projects, South Korea

  September 18, 2019
  The provincial government of Gyeonggi-do has announced plans to invest in, as well as collaborate with, multiple city and county governments and bus companies to expand the bus network and improve the quality of bus service in the province.

• Peshawar BRT cost escalates to PKR71 billion, Pakistan [free access]

  September 7, 2019
  The Peshawar Development Authority (PDA) has announced that the cost of the Peshawar bus rapid transit (BRT) project has escalated by PKR3 billion to PKR71 billion.

• ADB to fund ITS in Gui'an New District, China

  August 23, 2019
  The Asian Development Bank (ADB) has approved plans to provide a USD199.46 million loan for the development of an intelligent transport system (ITS) in Gui'an New District, Guizhou Province.

• Hamilton–Auckland commuter rail secures funding, New Zealand

  August 23, 2019
  The NZ Transport Agency (NZTA) and local governments, including Waikato Regional, Hamilton City, and Waikato District Councils, have announced plans to provide NZD92.37 million for the development of a commuter rail connecting Hamilton and Auckland.

• Transdev Australasia to acquire bus operations in New Zealand

  August 21, 2019
  Transdev Australasia has reached an agreement with UK-based private equity firm Souter Investments to acquire Howick and Eastern Buses and Mana Coach Services, two bus operators based in New Zealand.

• Mitsui-led consortium acquires majority stake in SuperVia, Brazil

  August 16, 2019
  The consortium of Mitsui& Company Limited, West Japan Railway, andthe public–private fund Join has acquired an 88.7 per cent stake in SuperVia, a commuter rail operator in Rio de Janeiro, to improve its performance.

• Astana LRT project to be funded by loans, Kazakhstan

  August 14, 2019
  The city government of Nur-Sultan (formerly known as Astana) has announced plans to sign agreements with Kazakhstan-based banks Halyk Bank and Baiterek National Managing Holding Joint Stock Company (Baiterek NMH JSC) to provide loans worth USD600 billion for the Astana light rail transit (LRT) project.

• Queensland government to finance Gold Coast LRT Stage 3A, Australia

  August 9, 2019
  The state government of Queensland has announced plans to invest USD238 million (AUD351 million) for the development of Stage 3A of the Gold Coast light rail transit (LRT).