InfraCo Asia Development has signed a 5-year developer services agreement with Infra Capital Myanmar, a joint venture between ReEx Capital Asia Private Limited and ADL Capital Developments.

The core programme of InfraCo Asia was launched in 2010 and has a proven business model to fund early stage, high-risk infrastructure development activities. The award of the Myanmar developer services agreement is an integral part of InfraCo Asia's move to work towards 'multi-developers' and a co-investment programme.

The contract signing followed a competitive procurement process to select an infrastructure project developer for InfraCo Asia's Myanmar programme. The procurement process commenced on September 26th 2014 and included pre-qualification, invitation to tender, interviews and a best and final offer stage process. The award notification was issued to the preferred tenderer on April 28th 2015.

Mr Kenneth Baxter, Chairman of InfraCo Asia, stated:

"Through our partnership with Infra Capital we will develop and implement projects which deliver improved access to sustainable infrastructure. We believe that this will contribute directly to economic growth, benefiting individuals and communities in Myanmar and contributing to poverty reduction."

Present at the signing were InfraCo Asia's Director Peter Bird, InfraCo Asia's CEO Allard Nooy and Mr. Shalabh Singhania. Infra Capital Myanmar was represented by Yanis Boudjouher, Han Meng Chan, David Noon and Marcus Teo.

InfraCo Asia funds early stage, high-risk infrastructure development activities by taking an equity stake in projects and focusing on socially responsible and commercially viable infrastructure projects.