US equity firm goes Myanmar

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Yangon Airport
ACO Investments want to inject $200 million into the modernisation of Yangon International Airport

New York-based private equity firm ACO Investment Group has said it will invest $700 million in Myanmar in a claim that the country would offer investors the best growth opportunity in the Southeast Asia region.

The company, specialised on alternative investments and emerging markets, co-founded by former Credit Suisse banker Hari Achuthan and former United Airlines president Ronojoy Dutta, wants to invest $200 million in Yangon International Airport and plans to make a $500 million bid for two telecommunications licenses as part of a new global infrastructure fund.

The investment in Yangon Airport may take the form of joint ventures or project financing and includes debt, Achuthan was quoted as saying by Bloomberg.

The telecom licenses will be up for bidding in June, the Myanmar Posts and Telecommunications Ministry recently announced. Among the 91 potential bidders are Singapore Telecommunications, Southeast Asia’s biggest phone company, Malaysia’s Axiata Group  and Norway’s Telenor.

ACO Investment also wants to develop solar energy farms in Mandalay in northern Myanmar. The firm will invest $1.5 to $2 billion in the project over two years, Achuthan said. Beyond Myanmar, the private equity firm is exploring another $500 million solar farm investment and a $250 million wind farm project in Vietnam.

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Reading Time: 1 minute

ACO Investments want to inject $200 million into the modernisation of Yangon International Airport

New York-based private equity firm ACO Investment Group has said it will invest $700 million in Myanmar in a claim that the country would offer investors the best growth opportunity in the Southeast Asia region.

Reading Time: 1 minute

Yangon Airport
ACO Investments want to inject $200 million into the modernisation of Yangon International Airport

New York-based private equity firm ACO Investment Group has said it will invest $700 million in Myanmar in a claim that the country would offer investors the best growth opportunity in the Southeast Asia region.

The company, specialised on alternative investments and emerging markets, co-founded by former Credit Suisse banker Hari Achuthan and former United Airlines president Ronojoy Dutta, wants to invest $200 million in Yangon International Airport and plans to make a $500 million bid for two telecommunications licenses as part of a new global infrastructure fund.

The investment in Yangon Airport may take the form of joint ventures or project financing and includes debt, Achuthan was quoted as saying by Bloomberg.

The telecom licenses will be up for bidding in June, the Myanmar Posts and Telecommunications Ministry recently announced. Among the 91 potential bidders are Singapore Telecommunications, Southeast Asia’s biggest phone company, Malaysia’s Axiata Group  and Norway’s Telenor.

ACO Investment also wants to develop solar energy farms in Mandalay in northern Myanmar. The firm will invest $1.5 to $2 billion in the project over two years, Achuthan said. Beyond Myanmar, the private equity firm is exploring another $500 million solar farm investment and a $250 million wind farm project in Vietnam.

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