Morgan Stanley fund to invest $200 mln in India road JV with Spain co

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MUMBAI | Tue May 24, 2011 4:00am EDT

MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.

Isolux Corsan will bring in an equal investment in the venture through the unit.

The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.

India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.

The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.

"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.

The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)

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MUMBAI | Tue May 24, 2011 4:00am EDT

MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.

Isolux Corsan will bring in an equal investment in the venture through the unit.

The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.

India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.

The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.

"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.

The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)

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MUMBAI | Tue May 24, 2011 4:00am EDT

MUMBAI May 24 (Reuters) - Morgan Stanley's global infrastructure fund will invest up to $200 million in a joint venture with a unit of Spain's Grupo Isolux Corsan, which holds rights to build three highway projects in India, the two firms said on Tuesday.

Isolux Corsan will bring in an equal investment in the venture through the unit.

The JV holds long-term rights for three projects to build over 400 kilometres of highways in western and northern India, with total cost estimated at $1.6 billion.

India has targeted doubling in infrastructure spending to $1 trillion in the five years starting in 2012, as Asia's third largest economy looks to boost growth.

The government has focused on a $50 billion road building programme, but foreign investors have shied away from the sector due to problems in land acquisition and a slow adoption of the toll-road model in India.

"The joint venture adds to our successful presence in India's transportation sector, providing us with an excellent road concession platform in a market that is experiencing rapid urbanization and dramatic growth in vehicles," said Gautam Bhandari, head of Morgan Stanley Infrastructure Asia.

The JV's projects, which involve expansion of existing roads, have already received commitments for the debt component, while Isolux Corsán has made substantial equity investment. (Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)

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UPDATE 1-P&G plans to invest $100 mln in Indonesia oleochemicals

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(Adds quotes, background)

JAKARTA May 23 (Reuters) - Procter & Gamble Co (P&G) will invest $100 million in the oleochemical sector in Indonesia, the country's industry minister MS Hidayat said on Monday.

"P&G is anticipating the need for 200,000 tonnes of fatty alcohol in the coming ten years from Indonesia," Hidayat said following a meeting with P&G officials at his office.

"To meet the need they are preparing at least $100 million to set up a joint venture with the local partner in the sector," Hidayat added.

High commodity prices and government efforts to boost downstream industries have started to attract investment in Indonesia over the past year.

Indonesia plans to offer fiscal incentives and restructure its export tax policy on crude palm oil, after it steadily hiked the tax to 25 percent in February from just 3 percent a year ago, to do more to spur downstream processing in the country.

The country is still reliant on exports of raw materials, and is aiming to move up the value chain.

Agriculture companies are looking to take advantage of growing wealth within Southeast Asia's biggest economy.

Indonesia's economy grew by 6.5 percent in the first quarter of 2011 from a year earlier, data showed in early May, due in part to strong domestic consumption. (Reporting by Yayat Supriatna; Writing by Michael Taylor; Editing by Muralikumar Anantharaman)

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(Adds quotes, background)

JAKARTA May 23 (Reuters) - Procter & Gamble Co (P&G) will invest $100 million in the oleochemical sector in Indonesia, the country's industry minister MS Hidayat said on Monday.

"P&G is anticipating the need for 200,000 tonnes of fatty alcohol in the coming ten years from Indonesia," Hidayat said following a meeting with P&G officials at his office.

"To meet the need they are preparing at least $100 million to set up a joint venture with the local partner in the sector," Hidayat added.

High commodity prices and government efforts to boost downstream industries have started to attract investment in Indonesia over the past year.

Indonesia plans to offer fiscal incentives and restructure its export tax policy on crude palm oil, after it steadily hiked the tax to 25 percent in February from just 3 percent a year ago, to do more to spur downstream processing in the country.

The country is still reliant on exports of raw materials, and is aiming to move up the value chain.

Agriculture companies are looking to take advantage of growing wealth within Southeast Asia's biggest economy.

Indonesia's economy grew by 6.5 percent in the first quarter of 2011 from a year earlier, data showed in early May, due in part to strong domestic consumption. (Reporting by Yayat Supriatna; Writing by Michael Taylor; Editing by Muralikumar Anantharaman)

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(Adds quotes, background)

JAKARTA May 23 (Reuters) - Procter & Gamble Co (P&G) will invest $100 million in the oleochemical sector in Indonesia, the country's industry minister MS Hidayat said on Monday.

"P&G is anticipating the need for 200,000 tonnes of fatty alcohol in the coming ten years from Indonesia," Hidayat said following a meeting with P&G officials at his office.

"To meet the need they are preparing at least $100 million to set up a joint venture with the local partner in the sector," Hidayat added.

High commodity prices and government efforts to boost downstream industries have started to attract investment in Indonesia over the past year.

Indonesia plans to offer fiscal incentives and restructure its export tax policy on crude palm oil, after it steadily hiked the tax to 25 percent in February from just 3 percent a year ago, to do more to spur downstream processing in the country.

The country is still reliant on exports of raw materials, and is aiming to move up the value chain.

Agriculture companies are looking to take advantage of growing wealth within Southeast Asia's biggest economy.

Indonesia's economy grew by 6.5 percent in the first quarter of 2011 from a year earlier, data showed in early May, due in part to strong domestic consumption. (Reporting by Yayat Supriatna; Writing by Michael Taylor; Editing by Muralikumar Anantharaman)

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Brazil's GVT to invest $6 bln over 5 years -report

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* GVT says to spend 10 bln reais in Brazil over 5 years

* Company needs qualified workers to fuel expansion

SAO PAULO, March 28 (Reuters) - Brazilian telecommunications company GVT plans to spend 10 billion reais ($6 billion) over the next five years to boost coverage in Latin America's largest economy, the company's chief executive officer told a local newspaper on Monday.

"We don't have a limit to invest," CEO Amos Genish told newspaper Folha de S. Paulo.

The company plans to reach 80 new cities, for a total of 180 cities, at a cost of 10 billion reais over the next five years, according to the report.

But the company said it needs to find employees who specialize in building telecommunications networks, a concern in a country where a number of companies have complained about the lack of an educated workforce.

France's Vivendi (VIV.PA) in 2009 paid 7.7 billion reais for GVT, the fixed-line and data services carrier.

($1=1.658 reais)

(Reporting by Luciana Lopez, editing by Dave Zimmerman)

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* GVT says to spend 10 bln reais in Brazil over 5 years

* Company needs qualified workers to fuel expansion

SAO PAULO, March 28 (Reuters) - Brazilian telecommunications company GVT plans to spend 10 billion reais ($6 billion) over the next five years to boost coverage in Latin America's largest economy, the company's chief executive officer told a local newspaper on Monday.

"We don't have a limit to invest," CEO Amos Genish told newspaper Folha de S. Paulo.

The company plans to reach 80 new cities, for a total of 180 cities, at a cost of 10 billion reais over the next five years, according to the report.

But the company said it needs to find employees who specialize in building telecommunications networks, a concern in a country where a number of companies have complained about the lack of an educated workforce.

France's Vivendi (VIV.PA) in 2009 paid 7.7 billion reais for GVT, the fixed-line and data services carrier.

($1=1.658 reais)

(Reporting by Luciana Lopez, editing by Dave Zimmerman)

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