Asian joint venture formed for Sithe projects
Sithe Energies Inc., AIG Asian Infrastructure Fund L.P. (AAIF) and the Government of Singapore Investment Corp. formed an Asian joint venture. Each member will contribute (US)$50 million for the development of Sithe`s power projects in China and other Asian countries. The funds will also be used for investment equity in the projects.
The AAIF raised (US)$1.1 billion to make equity and convertible debt investments in private sector infrastructure projects in China and other Asian countries