Singapore, Wednesday, 3 October 2019
- Infrastructure Asia (IA) and PT Sarana Multi Infrastruktur (Persero) (“PT SMI”) signed a Memorandum of Understanding (MOU) today to collaborate on joint capacity building with Indonesian government contracting agencies (GCAs) at the provincial, municipal and local level. The MOU establishes a platform for knowledge sharing to help better prepare infrastructure projects, so as to bring in private financing, including from international investors. IA will leverage its network of partners, including Singapore-based international companies, financial institutions and development financiers, and Singapore’s own developmental journey, for the partnership.
- The two-year MOU will focus on areas such as transit-oriented development, waste and water management. Specifically, IA will work with the Singapore-based industry to:
- Said Mr Seth Tan, IA’s Executive Director, “Indonesia and Singapore share robust and longstanding economic relations. This collaboration on knowledge sharing allows investors’ considerations and good-fitting solutions to be included early in the project preparation phase. This is integral in enhancing the bankability of the projects. Through this partnership, PT SMI and Infrastructure Asia can better bridge the needs of Singapore-based private sector and investors, with infrastructure opportunities in Indonesia.”
- Said Mr. Edwin Syahruzad, PT SMI President Director, “This collaboration, solidified by the MOU signed by PT SMI and Infrastructure Asia, will strengthen our longstanding partnership to identify and develop bankable infrastructure project pipelines in Indonesia through best practices shared by Singapore-based private sector and investors. This knowledge sharing initiative also promotes Indonesia’s infrastructure opportunities and government support given through PT SMI as one of Ministry of Finance’s special mission vehicles and its fiscal tools to Infrastructure Asia’s extensive network around the globe.”
- Even before the MOU was signed, both organisations have been working together on infrastructure projects in the West Java Province, specifically on public transportation in Metropolitan Bandung and waste management in Greater Cirebon.
About Infrastructure Asia
Infrastructure Asia (IA) aims to support Asia’s social and economic growth through infrastructure development. IA was established by Enterprise Singapore and Monetary Authority of Singapore to support infrastructure financing and development in the region. It does so through early project scoping, best practice sharing and brokering, harnessing Singapore’s best-in-class infrastructure ecosystem (international developers, engineering and professional services, along with financial institutions and multilateral development entities).
It also works with global players in the regional infrastructure ecosystem and leverages the collective capabilities and networks of various government agencies to catalyse more trade and investments into infrastructure in the region.
About PT SMI
PT Sarana Multi Infrastruktur (Persero) (“PT SMI”), established on February 26th 2009, is a State-Owned Enterprise under the coordination of the Ministry of Finance in the form of a Non-Bank Financial Institution with a mandate to act as a catalyst to accelerate infrastructure development.
PT SMI has a variety of unique functions and products/ features to support the acceleration of infrastructure development that not only serves as infrastructure financing but also as an enabler through the implementation of Public Private Partnership (PPP) scheme that involve various private and multilateral financial institutions. PT SMI actively supports the implementation of PPP and encourages the acceleration of infrastructure development in the region through municipal financing product.
PT SMI has three business pillars, namely (1) Financing and Investment (2) Advisory, and (3) Project Development, providing end to end services, including to debottleneck the lack of bankable projects and to close the financing gap in order to accelerate the development of infrastructure projects in Indonesia.
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