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KKR, GIP lead $25 billion regional infrastructure tie-up, US says
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KKR, GIP lead $25 billion regional infrastructure tie-up, US says
Jun 5, 2024 11:51 PM

SINGAPORE, June 6 (Reuters) - KKR, Global

Infrastructure Partners (GIP) and the Indo-Pacific Partnership

for Prosperity have formed a coalition to invest $25 billion in

infrastructure in the Indo-Pacific region, U.S. Commerce

Secretary Gina Raimondo said on Thursday.

Raimondo, speaking in Singapore, said investment would

include green data centres in Indonesia, renewable energy in the

Philippines and smart metres and hybrid renewables in India.

"Coalition members (of the Indo-Pacific Economic Framework)

will help facilitate the identification, promotion, and

development of successful infrastructure projects across the

region," the three organisations said in a joint statement.

The coalition will initially focus on scaled infrastructure

investment across the energy, transportation, water and waste,

and digital sectors, they said in the statement.

Private equity firms KKR and GIP will co-chair the

initiative, while global investors including BlackRock ( BLK ),

GIC, Rockefeller Foundation and Temasek will

be a part of the coalition, the statement showed.

Raimondo said over $23 billion of investment

opportunities had been identified by the Indo-Pacific Economic

Framework (IPEF).

Investment opportunities numbering 69 "sustainable

infrastructure" projects were identified at an IPEF Investor

Forum, Singapore's trade ministry, which organised the forum,

said on Thursday.

"Of these, 20 investment-ready projects worth about $6

billion were presented to investors. Remaining projects worth

about $17 billion were also identified as potential investment

opportunities," the ministry said.

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