Joint venture agreement 'to serve west African infrastructure market'

14 October 2009

Joint venture agreement 'to serve west African infrastructure market'

A joint venture between Jacobs and OCP has been announced as a platform for eventual expansion into the west African infrastructure market.

The initial phase of the project will provide engineering services from OCP's $5 billion (£3.13 billion) investment programme in Morocco.

In related news, a private equity investor with a presence in Africa has announced it has closed on its infrastructure fund tipped for developing markets at $750 million (£470 million).

Senior partner Paul Fletcher said: "The need [for this type of finance] is one of the great investment themes of our time these are the means through which these countries will continue to grow and prosper."

Focusing principally on transport and power generation, the firm considers infrastructure to be an important part of company strategy.

Ten months ago, Actis closed its $9.2 billion fund for private equity pan-emerging markets.

According to the company, the Infrastructure 2 fund will benefit from the experience and local knowledge cultivated by their team in Mumbai.

Categories: Transport, Energy

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