|
| |
 |
| Infrastructure Platform |
| |
| In 2006, Aktis Hanxi Group established a private equity team to identify government-aligned infrastructure projects in the Philippines. Our flagship investment comprised an acquisition and development of the Southern Tagalog Arterial Road (STAR) tollway, a 42 km expressway that now connects Metro Manila to the Batangas International Seaport. |
|
|
|
Aktis Hanxi Group led a leveraged management buyout of Star Infrastructure Development Corporation (SIDC), the distressed toll road company which held the toll road concession under a government Build-Transfer-Operate (BTO) contract for STAR. The concession consisted of the tollway operations and maintenance of Stage I, a 22.16 km, four-lane road and the expansion into Stage II Phase 1, a 19.74 km two-lane stretch connecting to Batangas. |
|
|
|
The Batangas International Seaport has significant logistic and consequently superior cost advantages over the leading port in the Philippines, Manila. Located at the southern tip of the mainland, Batangas's deep water harbor is closer to the south, thus sharply reducing delivery time and cost for cargo bound for Metro Manila and the Calabarzon industrial areas. |
|
|
|
Under Aktis Hanxi Group, the distressed toll road company, SIDC, was completely revamped. After replacing the toll road management and operations team, SIDC acquired a mandate for loan financing from the International Finance Corporation. Aktis Hanxi Group eventually decided to draw down upon a senior bank facility provided by the Development Bank of the Philippines in order to complete the construction of STAR. |
|
|
|
SIDC has since completed the Stage II Phase 2 which consists of a widening of Stage II from two lanes to four lanes. With the completion by the South Luzon Tollway Corporation (SLTC) of a link road from the massive feeder road, the Southern Luzon Expressway (SLEX) to STAR, the Philippines now benefits from a 71 km contiguous expressway connecting Metro Manila to the Batangas International Seaport. |
|
|
|
|
|
