Finance: Asia Pacific

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

• Vietnam’s Ministry of Transport approves VND3 trillion for railway maintenance in 2022 [free access]

  January 8, 2022
  Vietnam’s Ministry of Transport has approved the proposal to spend VND3 trillion (USD129.31 million) on railway maintenance in 2022.

• PFC to finance 350 electric buses in Uttar Pradesh, India

  December 15, 2021
  The Power Finance Corporation (PFC) has announced plans to finance the deployment of 350 electric buses in Uttar Pradesh at an investment of INR2.75 billion.

• Government of Vietnam seeks foreign investors for metro projects in HCMC

  December 10, 2021
  The Government of Vietnam has announced plans to execute multiple metro projects in Ho Chi Minh City (HCMC) through USD8 billion in foriegn investments.

• Government to approve Klang Valley MRT-3 financial plans by early 2022; tender to be launched in April 2022, Malaysia

  December 8, 2021
  The Government of Malaysia has announced plans to approve the financial projections for the Klang Valley Mass Rapid Transit Line 3 (MRT-3) project by early 2022.

• Bangkok Red Line extensions announced, Thailand

  October 29, 2021
  State Railway of Thailand (SRT) has announced four extension plans for Bangkok Red Line.

• AIIB approves loan for Chennai Metro Line 4, India

  October 1, 2021
  The Asian Infrastructure Investment Bank (AIIB) has approved a USD356.67 million loan to the Government of India for the Chennai Metro Phase II Line 4 project.

• Korea Eximbank announces plans to finance Luxor–High Dam railway line, Egypt

  September 27, 2021
  The South Korea Import-Export Bank (Korea Eximbank) has announced plans to finance the modernisation of the Luxor–High Damrailway line in southern Egypt through its Economic Development Cooperation Fund (EDCF) and the Economic Development Promotion Facility (EDPF) programme.

• China to invest USD154.88 billion in railway expansion in Yangtze Delta by 2025

  September 13, 2021
  The Government of China has announced plans to invest CNY1 trillion (USD154.88 billion) under the 14th Five-year Plan (2021–25) to expand the railway network in the Yangtze River Delta (YRD) region.

• Cao Cao raises USD589 million funding, China [free access]

  September 10, 2021
  Geely’s ride-hailing platform Cao Cao has raised CNY3.8 billion (USD589 million) in funding to upgrade its technology and expand its fleet.

• MLIT announces KRW1.7 trillion budget for expansion of metropolitan transportation infrastructure, South Korea

  September 9, 2021
  South Korea’s Ministry of Land, Infrastructure and Transport (MLIT) has announced a budget of KRW1.7 trillion for the expansion of metropolitan transportation infrastructure.

• THSRC to issue green bonds, Taiwan

  September 1, 2021
  Taiwan High Speed Rail Corporation (THSRC) has announced plans to raise USD35.95 million (TWD1 billion) through the issue of green bonds.

• L&T to divest from Hyderabad Metro; GMR to fund project expansion, India [free access]

  September 1, 2021
  India-based L&T has announced plans to divest its stake in Hyderabad Metro, the world’s largest metro project to be executed on the public-private partnership (PPP) mode.

• KKR to acquire Ritchies Transport, New Zealand

  August 26, 2021
  US-based global investment firm KKR has entered into definitive agreements to acquire Ritchies Transport, a New Zealand-based transport operator.

• ADB signs agreement for Bangalore Metro expansion projects, India [free access]

  August 20, 2021
  The Asian Development Bank (ADB) has signed an agreement with the Government of India to provide a USD500 million loan to expand the metro network in Bangalore. ADB had approved the loan in November 2020.

• ComfortDelGro subsidiary to launch IPO, Australia

  August 17, 2021
  ComfortDelGro Corporation Australia Pty Ltd (CDC), a subsidiary of ComfortDelGro, has announced plans to pursue an initial public offering (IPO) on the Australian Securities Exchange.

• Government of Tamil Nadu allocates funds for public transport in budget FY2021–22, India [free access]

  August 13, 2021
  The state government of Tamil Nadu, in its revised budget for FY2021–22, has allocated INR6.23 billion under the KfW assistance programme for the procurement of 1,000 new buses.

• MRT Corp. to use PFI to finance Urban HSR (MRT) Line 3, Malaysia

  July 29, 2021
  MRT Corp. has announced plans to use private finance initiatives (PFIs) to finance the development of the Urban High-Speed ​​Rail (HSR) MRT Line 3.

• TrueGreen secures additional funding for its transport and technology group Nexport

  July 28, 2021
  TrueGreen Impact Group (TrueGreen), an active impact investor, has secured USD110 million in new funding for its transport and technology group, Nexport Mobility (Nexport).

• ComfortDelGro to acquire Youngs Bus Service, Australia

  July 21, 2021
  CDC South East Queensland Pty Ltd, a wholly owned subsidiary of ComfortDelGro Corporation Australia Pty Ltd, has entered into an agreement to acquire Youngs Bus Service, a bus operator in Queensland.

• Sydney Light Rail long-term green loan refinanced, Australia

  July 2, 2021
  John Laing Group plc (John Laing) has refinanced the Sydney Light Rail project.