Chris Josselyn
Sir Michael Pitt, chairman of the Infrastructure Planning Commission in the UK, speaks to Chris Josselyn about how this newly created body aims to help overcome planning glitches in major infrastructure projects.
Legislative changes later this year could make the country an interesting infrastructure investment proposition.
The UK-listed infrastructure fund’s portfolio generated £19.5 million of net cash after costs, turning in a pre-tax profit of £8.5m, up 89% on the previous year. Infrastructure director Tony Roper also said the fund plans to diversify its portfolio over the next six months.
Challenger Infrastructure Fund has sold its 15.6% stake in UK regulated water company Southern Water to an undisclosed investor. The transaction is expected to be settled in January next year.
The Dutch state-owned electricity network operator has acquired the transmission grid of German power group E.ON. The deal is set to conclude by the end of the year, with a two-bank syndicate providing debt for the deal.
Infrastructure investor Infratil has sold its 3.87% stake in Auckland International Airport, which is the largest airport in New Zealand, as part of its programme of divesting non-core assets.
The fund, which is one of the first to focus purely on biomass projects, has identified a portfolio of nine projects in Scotland in which to invest. It is targeting first close for the first quarter of 2010.
Hot on the heels of signing an agreement with a German-led consortium for the operation of Pulkovo Airport, the Russian city is now looking to launch a PPP to operate waste processing facilities.
Airport investor GVK Airport Developers has acquired a 12% stake in Bangalore’s International Airport from Flughafen Zuerich, the owner of Zurich Aiport. Flughafen Zuerich will continue to operate the airport and will retain a 5% stake in the asset following the transaction.
The Australian-listed toll road operator has rejected the pensions’ offer to acquire 100% of the group, although it has left the door open for improved bids.