Titan Helps Indonesian State Related Entity To Set Up Infrastructure Office in Singapore
Updated: Sep 25, 2020
TSG Infrastructure Pte Ltd, a newly established Singapore company and majority-owned by an Indonesian SOE, will be setting up an infrastructure office in Singapore for the purpose of investing and developing infrastructure-related projects in Indonesia and Africa.
TSG Infrastructure intends to take advantage of Singapore’s reputation as a financial centre and the Singapore’s government’s push to make the country an infrastructure financing hub.
Working together with its partner TSG Utama Indonesia, which is part of the TSG Global Holding group of companies, TSG Infrastructure has signed a number of MOUs with the DR Congo government to develop projects in areas including energy, transportation and smart cities. The total cost of these projects is estimated to be more than €20,000,000,000, although the costs will be incurred in stages. To finance the cost of these projects, which is secured under a BOOT model, TSG Infrastructure will issue 2 global bonds and is currently working with an international European bank to lead this deal. The bonds will be issued as a commodity backed security and backed by mining assets in the DRC.
Work has already started in DR Congo on a 200MW solar PV project in the Menkao province of Kinshasa, which will be the first of several similar energy facilities to be built across the country in the next 5 years, under a master PPA signed between the Kinshasa provincial government and Sunplus Sarl, a unit of TSG Global Holdings.
Separately, an aviation city, a Kinshasa light rail system, a national railway transportation network, as well as a smart city project in Kinshasa are in the planning stages following agreements signed between TSG group and the DR Congo government.