Global Infrastructure: Q409 Round Up - An Encouraging End To A Dismal Year : Market Research Report

Global Infrastructure: Q409 Round Up - An Encouraging End To A Dismal Year

Published by: Business Monitor International

Published: Jan. 8, 2010 - 14 Pages

Global Infrastructure: Q409 Round Up - An Encouraging End To A Dismal Year: Introduction
table: BMI’s Core Views For Infrastructure Sector: Energy And Utilities; chart: Energy Projects Holding Up; Effects of the Financial Crisis On Energy Infrastructure Projects; Nuclear; Transmission And Distribution; Independent Water And Power Plants (IWPPs); Water; Oil And Gas Pipelines; Transport Infrastructure; Roads
chart: Projects Face Delays: Effects of the Financial Crisis On Transport Infrastructure Projects; Railways; Airports; Ports; BMI’s New Infrastructure Data
chart: Brazil Leads The Way: Infrastructure Industry Values As % of Total Construction, 2007-2014f Average; Some Thoughts For 2010; chart: Robust Asia Pacific While MENA Rebounds; Global Construction Industry Value Real Growth (%) Forecasts*; Robust Asia Pacific While MENA Rebounds; Global Assumptions - Q2 2010; Global Outlook: 2010 Looking Rosier
TABLE : GLOBAL & REGIONAL REAL GDP GROWTH: indicators: world, developed states, asia ex-japan, latin america, emerging europe,; sub-saharan africa, middle east & north africa
TABLE : GLOBAL ASSUMPTIONS: indicators: real gdp growth (%), consumer inflation (avg), interest rates (eop),; exchange rates (avg), oil prices (avg); Developed States; Emerging Markets
TABLE : DEVELO PED STATES: indicators: developed states agg growth, g7, eurozone, eu-27, selected developed states,; australia, austria, belgium, canada, denmark, finland, france, germany, ireland, italy,; japan, netherlands, norway, portugal, spain, sweden, switzerland, united kingdom,; united states of america
TABLE : EMERG ING MARKETS: indicators: emerging markets agg growth, latin america, argentina, brazil, mexico,; middle east, africa, south africa, nigeria, sudi arabia, uae, egypt, emerging asia, china,; hong kong, india, indonesia, malaysia, singapore, south korea, taiwan, thailand,; emerging europe, russia, turkey, czech republic, hungary, poland

Abstract

Introduction

The fourth quarter saw a thaw in bank lending and a recovery in project finance operations. Though multilateral organisations and state-owned development banks played a dominant role, banks, especially from Asia, also had a presence in syndicated loans. One such example is the financing for the Salalah independent water and power plant (IWPP) in Oman, where the syndicate of banks arranging the loan was made up mainly of banks from Asia (China and Japan) and the Middle East.

However encouraging the thaw in bank lending may be, the fact remains that financiers are still very cautious about making long-term commitments to projects. The number of projects seeking financing is growing faster than the pool of available capital.

There has been a rising level of activity in infrastructure funds, as many investment houses and private equity players switch focus to infrastructure to hedge some of their exposure to other assets classes such as real estate.

This activity has provided the infrastructure market with valuable liquidity.

Latin America continued to lure infrastructure funds. Brookfield Asset Management and Peru's AC Capitales were appointed fund managers for the Peru Infrastructure Fund, while São Paulo-based investment bank BTG Pactual has disclosed that it is preparing to launch a private equity infrastructure fund.

In Europe, state-supported infrastructure funds, with a mandate to invest in energy and transport projects to promote EU integration and development, became the centre of attention.

The state-backed development banks of France, Italy and Germany are seeking to divest their stakes in the Galaxy infrastructure fund. Meanwhile, a number of Europe's leading state-owned financial institutions have launched the Marguerite Infrastructure Fund, with a mandate to invest in projects to meet European Union public policy objectives. The Marguerite fund has been launched with an initial capital investment of EUR600mn and is due for first close on March 3 2010.

Finally, Australia's Macquarie bank, one of the largest infrastructure fund managers globally, launched an infrastructure fund in Mexico and also launched its second fund in South Korea.

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Global Infrastructure: Q409 Round Up - An Encouraging End To A Dismal Year

Table of Contents

Abstract