Finance: Asia Pacific

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

• MooVita raises Series A funding

  June 8, 2021
  MooVita, a Singapore-based driverless software solutions provider, has raised Series A funding from Malaysia-based Yinson Holdings Berhad and Singapore-based SMRT Ventures.

• Government of Kerala allocates funds for buses in budget FY2021–22, India

  June 5, 2021
  The state government of Kerala, in its revised budget for FY2021–22, has allocated INR1.10 billion for the expansion of the state’s bus fleet.

• Shenzhen Metro Group to issue bonds, China

  May 28, 2021
  Shenzhen Metro Group has announced plans to raise CNY4 billion by issuing bonds.

• State government of Victoria allocates funds for transport in Budget 2021–22, Australia

  May 20, 2021
  The state government of Victoria has allocated over AUD6.45 billion for rail and road infrastructure projects in its budget for FY2021–22.

• Government of New Zealand allocates funds for transport sector in Budget 2021–22 [free access]

  May 20, 2021
  The Government of New Zealand, in its budget for FY2021–22, has allocated NZD1.30 billion for rail projects.

• Government of Australia allocates funds for rail projects in Budget 2021–22

  May 12, 2021
  The Government of Australia has allocated AUD548 million for three rail projects in the country.

• Bonds issued for Nantong Rail Transit Line 1, China

  April 27, 2021
  Nantong Urban Construction Group Company Limited has issued green bonds worth CNY2.80 billion for the Nantong Rail Transit Line 1 project.

• East Coast Rail Link cost escalates; alignment revised, Malaysia

  April 8, 2021
  The Government of Malaysia has announced that the cost of the East Coast Rail Link project has escalated by 14 per cent to USD12.08 billion as the network has been expanded by 25 km.

• Ashok Leyland EV subsidiary to expand in India; partners with Siemens

  April 8, 2021
  Switch Mobility, an electric vehicle (EV) developer, has announced plans to expand in India and incorporate two subsidiaries: Switch Mobility Automotive and OHM Global Mobility Private Limited.

• JICA to fund Delhi Metro Phase IV, India

  April 5, 2021
  The Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India to provide a loan of USD1.15 billion (INR83.90 billion) for the Delhi Metro Phase IV project.

• JICA to fund Bangalore Metro Phase 2, India

  March 26, 2021
  The Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India to provide official development assistance (ODA) loans worth JPY52.036 billion for the Bangalore Metro Phase 2 project, which will span 74 km.

• Government of India to sell stake in RVNL

  March 24, 2021
  The Government of India has announced plans to sell a stake of up to 10 per cent in Rail Vikas Nigam Limited (RVNL), a rail projects developer in India.

• Government of Scotland allocates funding through the second round of SULEBS, UK

  March 23, 2021
  The Government of Scotland has allocated GBP40.5 million funding through the second round of the Scottish Ultra-Low Emission Bus Scheme (SULEBS) to assist operators in replacing old diesel buses with new battery-electric vehicles and to achieve net zero greenhouse gas (GHG) emission targets for Scotland.

• Bus operators in Sarawak to receive subsidies, Malaysia

  March 19, 2021
  11 bus operators in the state of Sarawak have signed an agreement with the Government of Malaysia to receive MYR6.50 million as subsidies under the Interim Stage Bus Support Fund (ISBSF) programme.

• Governments of Haryana and Telangana allocate funds for public transport in Budget 2021–22, India

  March 19, 2021
  The state governments of Haryana and Telangana have allocated over INR1 billion and INR10 billion respectively for public transport projects.

• NZD31 billion to be invested in ATAP, New Zealand

  March 16, 2021
  The Government of New Zealand and the Auckland Council have approved NZD31 billion investment in the Auckland Transport Alignment Project (ATAP) by 2031.

• Government of Delhi allocates funds for public transport in Budget 2021–22, India

  March 10, 2021
  The government of the National Capital Territory (NCT) of Delhi has allocated INR88.62 billion for public transport schemes and programmes in its budget for FY2021–22.

• State governments in India allocate funds for public transport in Budget 2021–22

  March 9, 2021
  The state governments of Gujarat, Karnataka, Madhya Pradesh, Maharashtra, and Punjab have allocated INR25.18 billion, over INR16 billion, INR2.62 billion, over INR14 billion, and INR5.70 billion respectively for public transport projects.

• EEC approves additional budget for Suvarnabhumi–Don Mueang–U-Tapao HSR, Thailand [free access]

  March 2, 2021
  Thailand’s Eastern Economic Corridor (EEC) Policy Committee has approved an additional budget of THN2.17 billion for land expropriation for the Suvarnabhumi–Don Mueang–U-Tapao high speed rail (HSR) project.

• MMRDA, governments of Tamil Nadu and Uttar Pradesh allocate funds for transport in Budget FY2021–22, India

  February 25, 2021
  The Mumbai Metropolitan Region Development Authority (MMRDA) has allocated over INR65 billion for the Mumbai Metro Project.